Apollo Investment Corporation (AINV) Rating Increased to Buy at Compass Point
Apollo Investment Corporation (NASDAQ:AINV) was upgraded by stock analysts at Compass Point from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat.com reports.
Other analysts also recently issued research reports about the company. Bank of America Corporation restated an “underperform” rating and issued a $6.00 price target (up previously from $5.50) on shares of Apollo Investment Corporation in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods set a $7.00 price target on Apollo Investment Corporation and gave the stock a “hold” rating in a research note on Thursday, October 5th. Zacks Investment Research upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, J P Morgan Chase & Co cut their target price on Apollo Investment Corporation from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.28.
Apollo Investment Corporation (AINV) traded up $0.18 during trading on Friday, hitting $6.09. The company had a trading volume of 1,595,373 shares, compared to its average volume of 790,283. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $1,337.94, a P/E ratio of 9.37, a P/E/G ratio of 1.93 and a beta of 0.93. Apollo Investment Corporation has a 52 week low of $5.65 and a 52 week high of $6.82.
Apollo Investment Corporation (NASDAQ:AINV) last posted its quarterly earnings results on Friday, November 3rd. The asset manager reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $66.46 million for the quarter, compared to the consensus estimate of $67.75 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. research analysts predict that Apollo Investment Corporation will post 0.63 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in AINV. Bank of New York Mellon Corp boosted its stake in shares of Apollo Investment Corporation by 48.5% in the 1st quarter. Bank of New York Mellon Corp now owns 21,132 shares of the asset manager’s stock worth $138,000 after buying an additional 6,901 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Apollo Investment Corporation in the 1st quarter worth $101,000. Ameriprise Financial Inc. boosted its stake in shares of Apollo Investment Corporation by 152.7% in the 1st quarter. Ameriprise Financial Inc. now owns 51,648 shares of the asset manager’s stock worth $339,000 after buying an additional 31,207 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Apollo Investment Corporation by 3.9% in the 1st quarter. Legal & General Group Plc now owns 534,975 shares of the asset manager’s stock worth $3,507,000 after buying an additional 20,135 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Apollo Investment Corporation by 1.6% in the 1st quarter. Morgan Stanley now owns 3,525,248 shares of the asset manager’s stock worth $23,125,000 after buying an additional 54,340 shares during the last quarter. Hedge funds and other institutional investors own 45.73% of the company’s stock.
Apollo Investment Corporation Company Profile
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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