Apollo Investment (NASDAQ:AINV) Reaches New 52-Week High at $17.03

Apollo Investment Corp. (NASDAQ:AINV) shares reached a new 52-week high on Wednesday . The stock traded as high as $17.03 and last traded at $17.03, with a volume of 10721 shares. The stock had previously closed at $16.82.

A number of research analysts have weighed in on AINV shares. Zacks Investment Research raised shares of Apollo Investment from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada assumed coverage on shares of Apollo Investment in a report on Tuesday, November 12th. They issued a “sector perform” rating and a $17.00 target price on the stock. TheStreet cut shares of Apollo Investment from a “b-” rating to a “c” rating in a research report on Wednesday, November 6th. BidaskClub upgraded Apollo Investment from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Compass Point lowered Apollo Investment from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Apollo Investment currently has an average rating of “Hold” and a consensus price target of $17.25.

The company has a debt-to-equity ratio of 1.26, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $1.12 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 8.81 and a beta of 1.11. The business has a 50 day moving average price of $16.23 and a two-hundred day moving average price of $16.17.

Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings results on Tuesday, November 5th. The asset manager reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.11. Apollo Investment had a return on equity of 10.39% and a net margin of 23.47%. The firm had revenue of $70.32 million during the quarter, compared to analysts’ expectations of $68.67 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Apollo Investment Corp. will post 1.92 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 20th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $1.80 annualized dividend and a yield of 10.58%. Apollo Investment’s dividend payout ratio (DPR) is 99.45%.

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in shares of Apollo Investment by 117.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,159 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 2,245 shares during the period. LLBH Private Wealth Management LLC purchased a new stake in Apollo Investment during the 2nd quarter valued at approximately $339,000. JPMorgan Chase & Co. raised its position in shares of Apollo Investment by 5.0% during the second quarter. JPMorgan Chase & Co. now owns 48,892 shares of the asset manager’s stock valued at $763,000 after buying an additional 2,347 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Apollo Investment during the second quarter valued at approximately $202,000. Finally, First Allied Advisory Services Inc. lifted its holdings in shares of Apollo Investment by 11.1% in the third quarter. First Allied Advisory Services Inc. now owns 37,403 shares of the asset manager’s stock worth $604,000 after buying an additional 3,727 shares in the last quarter. 39.46% of the stock is owned by institutional investors and hedge funds.

About Apollo Investment (NASDAQ:AINV)

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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