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 issued to investors on Tuesday, November 7th, Marketbeat Ratings reports. Raymond James Financial, Inc. currently has $7.00 price target on the asset manager’s stock.
Other analysts have also issued reports about the company. Jefferies Group LLC restated a buy rating and issued a $7.00 price target on shares of Apollo Investment Corporation in a report on Friday, July 14th. Compass Point upgraded Apollo Investment Corporation from a neutral rating to a buy rating in a report on Friday, November 3rd. SunTrust Banks, Inc. reiterated a buy rating on shares of Apollo Investment Corporation in a report on Friday, November 3rd. Keefe, Bruyette & Woods reiterated a hold rating and set a $6.50 target price on shares of Apollo Investment Corporation in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded Apollo Investment Corporation from a sell rating to a hold rating in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Apollo Investment Corporation currently has an average rating of Hold and an average target price of $6.41.
Shares of Apollo Investment Corporation (AINV) traded down $0.03 during trading on Tuesday, hitting $6.04. The company had a trading volume of 431,848 shares, compared to its average volume of 879,730. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.59. Apollo Investment Corporation has a twelve month low of $5.69 and a twelve month high of $6.82. The firm has a market capitalization of $1,330.00, a PE ratio of 9.34, a PEG ratio of 1.94 and a beta of 0.93.
Apollo Investment Corporation (NASDAQ:AINV) last announced its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $66.46 million during the quarter, compared to analysts’ expectations of $67.75 million. Apollo Investment Corporation had a return on equity of 9.51% and a net margin of 29.87%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. research analysts predict that Apollo Investment Corporation will post 0.63 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 21st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 9.93%. The ex-dividend date of this dividend is Wednesday, December 20th. Apollo Investment Corporation’s dividend payout ratio (DPR) is currently 166.67%.
Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Apollo Investment Corporation by 48.5% during the first quarter. Bank of New York Mellon Corp now owns 21,132 shares of the asset manager’s stock worth $138,000 after purchasing an additional 6,901 shares during the last quarter. Karp Capital Management Corp bought a new stake in Apollo Investment Corporation during the first quarter worth $101,000. Ameriprise Financial Inc. lifted its stake in Apollo Investment Corporation by 152.7% during the first quarter. Ameriprise Financial Inc. now owns 51,648 shares of the asset manager’s stock worth $339,000 after purchasing an additional 31,207 shares during the last quarter. Bank of America Corp DE lifted its stake in Apollo Investment Corporation by 0.7% during the first quarter. Bank of America Corp DE now owns 1,766,375 shares of the asset manager’s stock worth $11,587,000 after purchasing an additional 12,227 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Apollo Investment Corporation by 71.0% during the first quarter. Goldman Sachs Group Inc. now owns 282,431 shares of the asset manager’s stock worth $1,853,000 after purchasing an additional 117,247 shares during the last quarter. Institutional investors and hedge funds own 46.31% of the company’s stock.
Apollo Investment Corporation Company Profile
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.
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