Zacks Investment Research Upgrades Apollo Investment Corporation (AINV) to Hold

Apollo Investment Corporation (NASDAQ:AINV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, August 8th.

According to Zacks, “Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company’s investment portfolio will be principally in middle-market private companies. “

Several other research firms also recently weighed in on AINV. BMO Capital Markets reaffirmed a “hold” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a research note on Tuesday, April 11th. BidaskClub downgraded shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods set a $7.00 price target on shares of Apollo Investment Corporation and gave the company a “hold” rating in a research note on Wednesday, May 31st. National Securities reaffirmed a “neutral” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a research note on Thursday, May 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Apollo Investment Corporation in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.33.

Apollo Investment Corporation (NASDAQ AINV) traded down 1.45% during midday trading on Tuesday, hitting $6.10. The stock had a trading volume of 1,351,331 shares. Apollo Investment Corporation has a 1-year low of $5.65 and a 1-year high of $6.82. The stock’s 50-day moving average is $6.36 and its 200-day moving average is $6.38.

Apollo Investment Corporation (NASDAQ:AINV) last announced its quarterly earnings data on Friday, August 4th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The business had revenue of $66.70 million during the quarter, compared to the consensus estimate of $65.19 million. Apollo Investment Corporation had a net margin of 33.04% and a return on equity of 9.75%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. Analysts expect that Apollo Investment Corporation will post $0.63 EPS for the current year.

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Institutional investors have recently modified their holdings of the stock. Graybill Bartz & Assoc Ltd. raised its position in shares of Apollo Investment Corporation by 0.4% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 372,693 shares of the asset manager’s stock valued at $2,445,000 after buying an additional 1,464 shares during the last quarter. Creative Planning raised its position in Apollo Investment Corporation by 8.5% in the first quarter. Creative Planning now owns 73,730 shares of the asset manager’s stock valued at $484,000 after buying an additional 5,759 shares in the last quarter. Morgan Stanley raised its position in Apollo Investment Corporation by 1.6% in the first quarter. Morgan Stanley now owns 3,525,248 shares of the asset manager’s stock valued at $23,125,000 after buying an additional 54,340 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in Apollo Investment Corporation by 122.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 816,242 shares of the asset manager’s stock valued at $5,354,000 after buying an additional 448,680 shares in the last quarter. Finally, Green Square Capital LLC raised its position in Apollo Investment Corporation by 2.6% in the first quarter. Green Square Capital LLC now owns 56,057 shares of the asset manager’s stock valued at $376,000 after buying an additional 1,394 shares in the last quarter. 46.36% of the stock is currently owned by institutional investors.

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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