A number of other equities research analysts have also recently weighed in on AINV. JPMorgan Chase & Co. cut their price objective on shares of Apollo Investment from $6.50 to $6.00 and set a neutral rating on the stock in a report on Wednesday, November 1st. Compass Point initiated coverage on shares of Apollo Investment in a report on Thursday, November 2nd. They issued a neutral rating and a $6.25 price objective on the stock. SunTrust Banks restated a buy rating on shares of Apollo Investment in a report on Friday, November 3rd. National Securities restated a neutral rating and issued a $6.00 price objective on shares of Apollo Investment in a report on Tuesday, November 7th. Finally, Raymond James Financial upgraded shares of Apollo Investment from a market perform rating to an outperform rating and set a $7.00 price objective on the stock in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Apollo Investment presently has an average rating of Hold and an average price target of $6.38.
Shares of Apollo Investment (AINV) traded down $0.03 during midday trading on Wednesday, hitting $5.45. 249,593 shares of the company traded hands, compared to its average volume of 955,954. Apollo Investment has a one year low of $5.32 and a one year high of $6.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.43 and a quick ratio of 0.61. The stock has a market capitalization of $1,210.00, a PE ratio of 16.29, a P/E/G ratio of 1.73 and a beta of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Tuesday, March 27th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.01%. The ex-dividend date is Monday, March 26th. Apollo Investment’s payout ratio is 176.47%.
Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of Apollo Investment by 0.3% during the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after buying an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Apollo Investment by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 18,016 shares of the asset manager’s stock valued at $115,000 after buying an additional 168 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Apollo Investment by 8.8% during the second quarter. HighTower Advisors LLC now owns 17,884 shares of the asset manager’s stock valued at $115,000 after buying an additional 1,451 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Apollo Investment by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 24,632 shares of the asset manager’s stock valued at $158,000 after buying an additional 3,500 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Apollo Investment by 4.3% during the second quarter. Stifel Financial Corp now owns 185,106 shares of the asset manager’s stock valued at $1,185,000 after buying an additional 7,644 shares during the last quarter. Hedge funds and other institutional investors own 46.51% of the company’s stock.
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About Apollo Investment
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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