Apollo Investment Corp. (AINV) Rating Reiterated by BMO Capital Markets
Apollo Investment Corp. (NASDAQ:AINV)‘s stock had its “hold” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued to investors on Wednesday.
AINV has been the topic of several other research reports. Jefferies Group reaffirmed a “buy” rating on shares of Apollo Investment Corp. in a research report on Friday, August 12th. National Securities reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment Corp. in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Apollo Investment Corp. currently has a consensus rating of “Hold” and an average price target of $6.42.
Apollo Investment Corp. (NASDAQ:AINV) opened at 6.00 on Wednesday. Apollo Investment Corp. has a 12 month low of $4.26 and a 12 month high of $6.39. The firm has a 50-day moving average price of $5.91 and a 200 day moving average price of $5.75.
Apollo Investment Corp. (NASDAQ:AINV) last posted its earnings results on Tuesday, November 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Apollo Investment Corp. had a positive return on equity of 10.42% and a negative net margin of 15.42%. During the same period in the prior year, the business earned $0.21 EPS. On average, analysts expect that Apollo Investment Corp. will post $0.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Wednesday, December 21st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.00%. The ex-dividend date of this dividend is Monday, December 19th. Apollo Investment Corp.’s dividend payout ratio is presently -272.73%.
In other Apollo Investment Corp. news, Director Frank C. Puleo bought 4,180 shares of Apollo Investment Corp. stock in a transaction on Tuesday, August 16th. The shares were purchased at an average price of $6.01 per share, with a total value of $25,121.80. Following the acquisition, the director now owns 29,080 shares in the company, valued at approximately $174,770.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hilary E. Ackermann bought 6,000 shares of Apollo Investment Corp. stock in a transaction on Wednesday, August 17th. The stock was acquired at an average cost of $6.02 per share, for a total transaction of $36,120.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $60,200. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. boosted its position in shares of 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 during the last quarter. Bank of Montreal Can purchased a new position in shares of Apollo Investment Corp. during the second quarter worth approximately $21,567,000. Morgan Stanley boosted its position in shares of Apollo Investment Corp. by 7.0% in the third quarter. Morgan Stanley now owns 2,846,883 shares of the company’s stock worth $16,512,000 after buying an additional 187,217 shares during the last quarter. Muzinich & Co. Inc. boosted its position in shares of Apollo Investment Corp. by 3.8% in the third quarter. Muzinich & Co. Inc. now owns 2,266,372 shares of the company’s stock worth $13,145,000 after buying an additional 83,483 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in shares of 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 during the last quarter. Institutional investors own 42.83% 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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