Barclays Raises Apollo Investment (AINV) Price Target to $18.00

Apollo Investment (NASDAQ:AINV) had its price target upped by Barclays from $6.00 to $18.00 in a research report report published on Tuesday. Barclays currently has an equal weight rating on the asset manager’s stock.

A number of other equities research analysts have also recently commented on AINV. ValuEngine cut shares of Apollo Investment from a hold rating to a sell rating in a research note on Tuesday, August 7th. Zacks Investment Research cut shares of Apollo Investment from a hold rating to a sell rating in a research note on Friday, August 10th. BidaskClub cut shares of Apollo Investment from a buy rating to a hold rating in a research note on Saturday, August 11th. National Securities reiterated a neutral rating and set a $18.00 price objective on shares of Apollo Investment in a research report on Wednesday, August 15th. Finally, TheStreet cut shares of Apollo Investment from a b- rating to a c rating in a research report on Monday, August 13th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Apollo Investment presently has an average rating of Hold and a consensus price target of $18.21.

NASDAQ AINV opened at $15.26 on Tuesday. Apollo Investment has a 12 month low of $14.84 and a 12 month high of $18.00. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.71 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.69.

Apollo Investment (NASDAQ:AINV) last released its 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 analysts’ expectations of $67.38 million. During the same quarter last year, the business earned $0.48 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts expect that Apollo Investment will post 1.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Wednesday, December 19th. Apollo Investment’s payout ratio is currently 98.36%.

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position 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 buying an additional 190,301 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Apollo Investment during the third quarter valued at approximately $9,591,000. Nomura Holdings Inc. raised its position 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 buying an additional 38,363 shares during the last quarter. Van ECK Associates Corp raised its position 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 buying an additional 22,521 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position 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 buying an additional 234,696 shares during the last quarter. Hedge funds and other institutional investors own 44.56% of the company’s stock.

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.

Featured Story: Inflation

Analyst Recommendations for Apollo Investment (NASDAQ:AINV)

Receive News & Ratings for Apollo Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Investment and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply