Shares of Apollo Investment Corp. (NASDAQ:AINV) have earned an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.47.
Several brokerages recently commented on AINV. Jefferies Group reaffirmed a “buy” rating on shares of Apollo Investment Corp. in a research note on Friday, August 12th. Bank of America Corp. lowered Apollo Investment Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, July 8th. Finally, National Securities reaffirmed a “neutral” rating and issued a $6.00 price target on shares of Apollo Investment Corp. in a research note on Monday, August 8th.
Apollo Investment Corp. (NASDAQ:AINV) opened at 5.80 on Thursday. The firm has a 50-day moving average of $6.01 and a 200 day moving average of $5.70. Apollo Investment Corp. has a 52 week low of $4.26 and a 52 week high of $6.39.
Apollo Investment Corp. (NASDAQ:AINV) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.02. Apollo Investment Corp. had a negative net margin of 26.23% and a positive return on equity of 10.57%. During the same period last year, the business posted $0.22 earnings per share. Equities research analysts anticipate that Apollo Investment Corp. will post $0.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be issued a $0.15 dividend. The ex-dividend date is Monday, September 19th. This represents a $0.60 dividend on an annualized basis and a yield of 10.34%. Apollo Investment Corp.’s dividend payout ratio is presently -146.34%.
In related news, CEO James C. Zelter acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average price of $5.58 per share, for a total transaction of $111,600.00. Following the completion of the acquisition, the chief executive officer now owns 318,166 shares of the company’s stock, valued at approximately $1,775,366.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Howard Widra acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was bought at an average price of $6.02 per share, with a total value of $30,100.00. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in AINV. Fuller & Thaler Asset Management Inc. increased its stake in Apollo Investment Corp. by 4.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 6,818,837 shares of the company’s stock worth $37,776,000 after buying an additional 286,724 shares in the last quarter. Bank of Montreal Can bought a new stake in Apollo Investment Corp. during the second quarter worth approximately $21,567,000. BlackRock Group LTD increased its stake in Apollo Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 1,213,128 shares of the company’s stock worth $6,721,000 after buying an additional 154,281 shares in the last quarter. ING Groep NV increased its stake in Apollo Investment Corp. by 3.3% in the second quarter. ING Groep NV now owns 1,181,663 shares of the company’s stock worth $6,558,000 after buying an additional 37,242 shares in the last quarter. Finally, Camelot Portfolios LLC increased its stake in Apollo Investment Corp. by 4.2% in the second quarter. Camelot Portfolios LLC now owns 855,394 shares of the company’s stock worth $4,739,000 after buying an additional 34,236 shares in the last quarter. Institutional investors and hedge funds own 42.91% of the company’s stock.
About Apollo Investment Corp.
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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