Apollo Investment (AINV) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Apollo Investment (NASDAQ:AINV) from a hold rating to a sell rating in a report released on Tuesday.

According to Zacks, “Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company’s investment portfolio will be principally in middle-market private companies. “

Other analysts have also issued reports about the stock. TheStreet lowered shares of Apollo Investment from a b- rating to a c rating in a research report on Monday, August 13th. Citigroup initiated coverage on shares of Apollo Investment in a research report on Thursday, August 23rd. They set a sell rating and a $5.00 target price on the stock. National Securities reaffirmed a neutral rating and set a $6.00 target price on shares of Apollo Investment in a research report on Wednesday, August 15th. BidaskClub lowered shares of Apollo Investment from a hold rating to a sell rating in a research report on Friday, August 31st. Finally, ValuEngine raised shares of Apollo Investment from a sell rating to a hold rating in a research report on Thursday, July 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Apollo Investment has a consensus rating of Hold and an average target price of $6.08.

Apollo Investment stock opened at $5.30 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. Apollo Investment has a 1-year low of $5.18 and a 1-year high of $6.18. The stock has a market capitalization of $1.17 billion, a P/E ratio of 8.69, a PEG ratio of 1.79 and a beta of 0.87.

Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings data on Wednesday, August 8th. The asset manager reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. Apollo Investment had a net margin of 27.90% and a return on equity of 9.20%. The company had revenue of $63.60 million for the quarter, compared to analyst estimates of $62.38 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Sell-side analysts expect that Apollo Investment will post 0.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Stockholders of record on Monday, September 24th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date was Friday, September 21st. Apollo Investment’s dividend payout ratio (DPR) is presently 98.36%.

Several large investors have recently modified their holdings of AINV. Aperio Group LLC increased its position in shares of Apollo Investment by 167.0% during the first quarter. Aperio Group LLC now owns 81,698 shares of the asset manager’s stock worth $426,000 after acquiring an additional 51,097 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Apollo Investment by 30.3% during the first quarter. JPMorgan Chase & Co. now owns 247,625 shares of the asset manager’s stock valued at $1,293,000 after purchasing an additional 57,634 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Apollo Investment during the first quarter valued at approximately $300,000. Quantbot Technologies LP boosted its stake in shares of Apollo Investment by 260.9% during the first quarter. Quantbot Technologies LP now owns 21,952 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 15,870 shares in the last quarter. Finally, Koch Industries Inc. boosted its stake in shares of Apollo Investment by 72.2% during the first quarter. Koch Industries Inc. now owns 34,388 shares of the asset manager’s stock valued at $180,000 after purchasing an additional 14,422 shares in the last quarter. 46.04% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Investment

Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.

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