Apollo Investment Corporation (AINV) Upgraded to Outperform by Raymond James Financial, Inc.

Raymond James Financial, Inc. upgraded shares of Apollo Investment Corporation (NASDAQ:AINV) from a market perform rating to an outperform rating in a research note released on Tuesday, November 7th, MarketBeat.com reports. The firm currently has $7.00 price objective on the asset manager’s stock.

A number of other brokerages also recently issued reports on AINV. Compass Point initiated coverage on Apollo Investment in a research report on Thursday, November 2nd. They issued a neutral rating and a $6.25 price target for the company. Bank of America Corporation restated an underperform rating and issued a $6.00 price target (up from $5.50) on shares of Apollo Investment in a research report on Wednesday, August 9th. BidaskClub downgraded Apollo Investment from a hold rating to a sell rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Apollo Investment from a sell rating to a hold rating in a research note on Tuesday, August 8th. Finally, J P Morgan Chase & Co reduced their target price on Apollo Investment from $6.50 to $6.00 and set a neutral rating on the stock in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $6.41.

Apollo Investment (NASDAQ AINV) opened at $6.07 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1,325.95, a P/E ratio of 9.34, a PEG ratio of 1.94 and a beta of 0.93. Apollo Investment has a 52-week low of $5.69 and a 52-week high of $6.82.

Apollo Investment (NASDAQ:AINV) last posted its earnings results on Friday, November 3rd. The asset manager reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $66.46 million during the quarter, compared to the consensus estimate of $67.75 million. Apollo Investment had a return on equity of 9.51% and a net margin of 29.87%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. sell-side analysts predict that Apollo Investment will post 0.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 21st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.60 annualized dividend and a dividend yield of 9.88%. Apollo Investment’s dividend payout ratio is currently 166.67%.

Several institutional investors have recently made changes to their positions in AINV. Karp Capital Management Corp bought a new stake in Apollo Investment during the first quarter valued at about $101,000. Atria Investments LLC bought a new stake in Apollo Investment during the second quarter valued at about $103,000. GAM Holding AG boosted its position in Apollo Investment by 2.7% during the second quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock valued at $106,000 after purchasing an additional 441 shares in the last quarter. Rhumbline Advisers boosted its position in Apollo Investment by 0.3% during the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 58 shares in the last quarter. Finally, Essex Financial Services Inc. bought a new stake in Apollo Investment during the second quarter valued at about $112,000. Hedge funds and other institutional investors own 46.31% of the company’s stock.

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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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