Apollo Investment (AINV) Downgraded to “Hold” at ValuEngine

Apollo Investment (NASDAQ:AINV) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday.

Other research analysts also recently issued reports about the company. Wells Fargo raised Apollo Investment from a “market perform” rating to an “outperform” rating and set a $6.00 price objective for the company in a research note on Thursday, February 8th. BidaskClub raised Apollo Investment from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 15th. National Securities reissued a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment in a research note on Thursday, February 8th. SunTrust Banks reissued a “buy” rating and issued a $6.50 price objective on shares of Apollo Investment in a research note on Thursday, February 8th. Finally, TheStreet downgraded Apollo Investment from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.38.

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NASDAQ AINV traded up $0.07 during mid-day trading on Monday, hitting $5.29. The stock had a trading volume of 1,496,424 shares, compared to its average volume of 995,678. Apollo Investment has a twelve month low of $5.18 and a twelve month high of $6.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $1,130.25, a P/E ratio of 7.90, a P/E/G ratio of 1.68 and a beta of 0.90.

Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. Apollo Investment had a return on equity of 9.45% and a net margin of 28.18%. The firm had revenue of $64.75 million during the quarter, compared to the consensus estimate of $65.94 million. During the same period in the prior year, the company earned $0.17 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. sell-side analysts predict that Apollo Investment will post 0.62 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of AINV. Northern Trust Corp increased its stake in shares of Apollo Investment by 13.3% in the 2nd quarter. Northern Trust Corp now owns 122,694 shares of the asset manager’s stock worth $784,000 after acquiring an additional 14,404 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Apollo Investment by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,016 shares of the asset manager’s stock worth $115,000 after acquiring an additional 168 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Apollo Investment in the 3rd quarter worth $942,000. Legal & General Group Plc increased its stake in shares of Apollo Investment by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 632,533 shares of the asset manager’s stock worth $3,862,000 after acquiring an additional 55,302 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Apollo Investment by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 162,576 shares of the asset manager’s stock worth $977,000 after acquiring an additional 9,974 shares during the last quarter. 48.84% of the stock is owned by institutional investors and hedge funds.

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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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