Apollo Investment (AINV) Rating Increased to Outperform at Wells Fargo & Co

Apollo Investment (NASDAQ:AINV) was upgraded by research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, February 8th, MarketBeat reports. The brokerage presently has a $6.00 price target on the asset manager’s stock. Wells Fargo & Co’s price objective points to a potential upside of 9.89% from the stock’s current price.

AINV has been the topic of several other reports. Raymond James Financial upgraded Apollo Investment from a “market perform” rating to an “outperform” rating and set a $7.00 price target on the stock in a report on Tuesday, November 7th. National Securities restated a “neutral” rating and set a $6.00 price target on shares of Apollo Investment in a report on Tuesday, November 7th. BidaskClub upgraded Apollo Investment from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. reduced their price target on Apollo Investment from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Finally, TheStreet upgraded Apollo Investment from a “c” rating to a “b-” rating in a report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.38.

Apollo Investment (NASDAQ:AINV) traded down $0.02 during trading hours on Thursday, hitting $5.46. The stock had a trading volume of 875,900 shares, compared to its average volume of 1,003,483. The company has a market capitalization of $1,180.00, a PE ratio of 15.94, a P/E/G ratio of 1.76 and a beta of 0.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.43 and a current ratio of 0.43. Apollo Investment has a 52 week low of $5.30 and a 52 week high of $6.82.

Apollo Investment (NASDAQ:AINV) last released its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $64.75 million for the quarter, compared to analysts’ expectations of $65.94 million. Apollo Investment had a return on equity of 9.45% and a net margin of 28.18%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 earnings per share. equities analysts forecast that Apollo Investment will post 0.62 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Apollo Investment by 0.3% in the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after acquiring an additional 58 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Apollo Investment in the third quarter valued at approximately $108,000. HighTower Advisors LLC boosted its holdings in Apollo Investment by 8.8% in the second quarter. HighTower Advisors LLC now owns 17,884 shares of the asset manager’s stock valued at $115,000 after acquiring an additional 1,451 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Apollo Investment by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 18,016 shares of the asset manager’s stock valued at $115,000 after acquiring an additional 168 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Apollo Investment by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 24,632 shares of the asset manager’s stock valued at $158,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 46.77% of the company’s stock.

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About Apollo Investment

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.

Analyst Recommendations for Apollo Investment (NASDAQ:AINV)

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