Shares of Apollo Investment Corp. (NASDAQ:AINV) have received an average rating of “Hold” from the sixteen ratings firms that are currently covering the firm. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.43.
Several brokerages recently issued reports on AINV. Jefferies Group restated a “buy” rating on shares of Apollo Investment Corp. in a research report on Friday, August 12th. National Securities restated a “neutral” rating and set a $6.00 target price on shares of Apollo Investment Corp. in a research report on Monday, August 8th. Finally, Bank of America Corp. lowered shares of Apollo Investment Corp. from a “neutral” rating to an “underperform” rating in a research report on Friday, July 8th.
Apollo Investment Corp. (NASDAQ:AINV) traded down 0.51% during mid-day trading on Thursday, hitting $5.83. 231,211 shares of the stock traded hands. Apollo Investment Corp. has a 12 month low of $4.26 and a 12 month high of $6.39. The company’s 50 day moving average is $6.01 and its 200 day moving average is $5.69.
Apollo Investment Corp. (NASDAQ:AINV) last released its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the 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 quarter in the previous year, the firm earned $0.22 EPS. Analysts forecast that Apollo Investment Corp. will post $0.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.24%. Apollo Investment Corp.’s dividend payout ratio is -146.34%.
In related news, Director Hilary E. Ackermann bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average price of $6.02 per share, for a total transaction of $36,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $60,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James C. Zelter bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were bought at an average price of $5.58 per share, with a total value of $111,600.00. Following the transaction, the chief executive officer now owns 318,166 shares of the company’s stock, valued at approximately $1,775,366.28. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Apollo Investment Corp. by 3.4% in the second quarter. Royal Bank of Canada now owns 156,534 shares of the company’s stock worth $867,000 after buying an additional 5,114 shares during the last quarter. IFP Advisors Inc increased its stake in Apollo Investment Corp. by 40.8% in the second quarter. IFP Advisors Inc now owns 49,075 shares of the company’s stock worth $272,000 after buying an additional 14,217 shares during the last quarter. Legal & General Group Plc increased its stake in Apollo Investment Corp. by 1.4% in the second quarter. Legal & General Group Plc now owns 466,748 shares of the company’s stock worth $2,588,000 after buying an additional 6,321 shares during the last quarter. B. Riley Financial Inc. increased its stake in Apollo Investment Corp. by 0.3% in the second quarter. B. Riley Financial Inc. now owns 52,930 shares of the company’s stock worth $293,000 after buying an additional 159 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in Apollo Investment Corp. by 5.0% in the second quarter. Guggenheim Capital LLC now owns 462,309 shares of the company’s stock worth $2,561,000 after buying an additional 22,062 shares during the last quarter. 42.91% of the stock is currently owned by institutional investors.
Apollo Investment Corp. 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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