Apollo Investment (NASDAQ:AINV) Downgraded to Sell at ValuEngine

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Apollo Investment (NASDAQ:AINV) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Co downgraded Apollo Investment from an “outperform” rating to a “market perform” rating and set a $17.00 price objective for the company. in a report on Wednesday, August 7th. BidaskClub downgraded Apollo Investment from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Compass Point downgraded 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. Royal Bank of Canada assumed coverage on Apollo Investment in a report on Tuesday, November 12th. They set a “sector perform” rating and a $17.00 price target for the company. Finally, Zacks Investment Research raised Apollo Investment from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Apollo Investment currently has a consensus rating of “Hold” and a consensus price target of $17.25.

AINV stock opened at $16.82 on Tuesday. The company has a market capitalization of $1.13 billion, a P/E ratio of 9.29, a PEG ratio of 8.81 and a beta of 1.11. Apollo Investment has a twelve month low of $12.05 and a twelve month high of $17.00. The business has a 50 day simple moving average of $16.21 and a 200-day simple moving average of $16.16. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.26.

Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings data on Tuesday, November 5th. The asset manager reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.11. The business had revenue of $70.32 million during the quarter, compared to the consensus estimate of $68.67 million. Apollo Investment had a return on equity of 10.39% and a net margin of 23.47%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. Research analysts predict that Apollo Investment will post 1.92 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in AINV. Commonwealth Equity Services LLC increased its position in shares of Apollo Investment by 4.2% in the second quarter. Commonwealth Equity Services LLC now owns 98,514 shares of the asset manager’s stock valued at $1,556,000 after buying an additional 3,976 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of Apollo Investment in the second quarter valued at $849,000. Wambolt & Associates LLC increased its position in shares of Apollo Investment by 1.3% in the second quarter. Wambolt & Associates LLC now owns 55,871 shares of the asset manager’s stock valued at $883,000 after buying an additional 694 shares in the last quarter. Stelac Advisory Services LLC purchased a new position in shares of Apollo Investment in the second quarter valued at $143,000. Finally, Barnett & Company Inc. increased its position in shares of Apollo Investment by 40.4% in the second quarter. Barnett & Company Inc. now owns 6,250 shares of the asset manager’s stock valued at $99,000 after buying an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 39.46% 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.

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Analyst Recommendations for Apollo Investment (NASDAQ:AINV)

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