ValuEngine downgraded shares of Apollo Investment (NASDAQ:AINV) from a hold rating to a sell rating in a report published on Wednesday.
Other analysts also recently issued reports about the stock. TheStreet downgraded shares of Apollo Investment from a b- rating to a c rating in a report on Monday, August 13th. Citigroup assumed coverage on shares of Apollo Investment in a report on Thursday, August 23rd. They issued a sell rating and a $15.00 target price on the stock. National Securities reiterated a neutral rating and issued a $18.00 target price on shares of Apollo Investment in a report on Wednesday, August 15th. Barclays boosted their target price on shares of Apollo Investment from $6.00 to $18.00 and gave the stock an equal weight rating in a report on Tuesday. Finally, BidaskClub downgraded shares of Apollo Investment from a hold rating to a sell rating in a report on Friday, August 31st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Apollo Investment has an average rating of Hold and a consensus target price of $18.21.
AINV stock opened at $15.49 on Wednesday. Apollo Investment has a 52 week low of $14.84 and a 52 week high of $18.00. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 8.46, a P/E/G ratio of 1.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.76 and a current ratio of 0.76.
Apollo Investment (NASDAQ:AINV) last released its quarterly earnings results on Tuesday, October 30th. The asset manager reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Apollo Investment had a net margin of 26.47% and a return on equity of 9.22%. The company had revenue of $66.03 million for the quarter, compared to the consensus estimate of $67.38 million. During the same period in the previous year, the firm earned $0.48 EPS. Apollo Investment’s revenue was down .6% on a year-over-year basis. On average, research analysts expect that Apollo Investment will post 1.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.87%. Apollo Investment’s dividend payout ratio is currently 98.36%.
Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Apollo Investment by 4.4% during the third quarter. Wells Fargo & Company MN now owns 4,481,748 shares of the asset manager’s stock valued at $24,380,000 after acquiring an additional 190,301 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Apollo Investment during the third quarter valued at approximately $9,591,000. Nomura Holdings Inc. raised its holdings in shares of Apollo Investment by 2.7% during the second quarter. Nomura Holdings Inc. now owns 1,478,894 shares of the asset manager’s stock valued at $8,237,000 after acquiring an additional 38,363 shares during the period. Van ECK Associates Corp raised its holdings in shares of Apollo Investment by 1.6% during the second quarter. Van ECK Associates Corp now owns 1,446,508 shares of the asset manager’s stock valued at $8,057,000 after acquiring an additional 22,521 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Apollo Investment by 19.4% during the third quarter. Allianz Asset Management GmbH now owns 1,445,292 shares of the asset manager’s stock valued at $7,862,000 after acquiring an additional 234,696 shares during the period. Institutional investors and hedge funds own 44.56% of the company’s stock.
Apollo Investment Company Profile
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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