Apollo Investment (NASDAQ:AINV) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Apollo Investment (NASDAQ:AINV) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $18.00 price target on the asset manager’s stock.

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 research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Apollo Investment from a sell rating to a hold rating in a report on Monday, November 4th. Compass Point cut shares of Apollo Investment from a buy rating to a neutral rating and set a $17.00 target price for the company. in a report on Monday, September 16th. BidaskClub upgraded shares of Apollo Investment from a sell rating to a hold rating in a report on Saturday, October 19th. Finally, Wells Fargo & Co cut shares of Apollo Investment from an outperform rating to a market perform rating and set a $17.00 target price for the company. in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $17.29.

Shares of AINV opened at $16.36 on Wednesday. Apollo Investment has a one year low of $12.05 and a one year high of $17.00. The company has a 50-day moving average of $15.93 and a two-hundred day moving average of $16.06. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 8.77 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.13 and a quick ratio of 1.13.

Apollo Investment (NASDAQ:AINV) last announced its earnings results on Tuesday, November 5th. The asset manager reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. Apollo Investment had a net margin of 23.47% and a return on equity of 10.28%. The company had revenue of $70.32 million during the quarter, compared to analysts’ expectations of $68.67 million. During the same period last year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts anticipate that Apollo Investment will post 1.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 20th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 11.00%. The ex-dividend date of this dividend is Thursday, December 19th. Apollo Investment’s dividend payout ratio is currently 99.45%.

Several hedge funds have recently bought and sold shares of AINV. Virtus ETF Advisers LLC acquired a new stake in shares of Apollo Investment during the second quarter worth approximately $4,189,000. Wells Fargo & Company MN boosted its holdings in shares of Apollo Investment by 7.1% during the second quarter. Wells Fargo & Company MN now owns 2,037,289 shares of the asset manager’s stock worth $32,189,000 after purchasing an additional 135,636 shares during the period. Green Square Asset Management LLC acquired a new stake in shares of Apollo Investment during the second quarter worth approximately $1,220,000. AE Wealth Management LLC acquired a new stake in shares of Apollo Investment during the second quarter worth approximately $849,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Apollo Investment by 9.6% during the second quarter. Van ECK Associates Corp now owns 568,064 shares of the asset manager’s stock worth $8,975,000 after purchasing an additional 49,612 shares during the period. Institutional investors and hedge funds own 41.17% 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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