Apollo Investment (NASDAQ:AINV) Downgraded to Hold at BidaskClub

Apollo Investment (NASDAQ:AINV) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

A number of other research firms also recently issued reports on AINV. TheStreet raised shares of Apollo Investment from a “c” rating to a “b-” rating in a research note on Friday. National Securities reaffirmed a “neutral” rating and set a $18.00 price target on shares of Apollo Investment in a research note on Monday, May 20th. Zacks Investment Research downgraded shares of Apollo Investment from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. Finally, ValuEngine raised shares of Apollo Investment from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.40.

Apollo Investment stock traded up $0.03 during mid-day trading on Tuesday, reaching $16.15. 15,746 shares of the company’s stock traded hands, compared to its average volume of 311,768. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 8.84 and a beta of 1.13. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. Apollo Investment has a 12-month low of $12.05 and a 12-month high of $18.00.

Apollo Investment (NASDAQ:AINV) last released its quarterly earnings results on Thursday, May 16th. The asset manager reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $61.41 million for the quarter, compared to the consensus estimate of $64.29 million. Apollo Investment had a net margin of 28.20% and a return on equity of 9.48%. Apollo Investment’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, equities research analysts anticipate that Apollo Investment will post 1.82 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. purchased a new position in shares of Apollo Investment during the 1st quarter valued at approximately $472,000. Marshall Wace LLP purchased a new stake in shares of Apollo Investment during the first quarter worth approximately $1,669,000. Advisory Services Network LLC raised its stake in shares of Apollo Investment by 13.5% during the first quarter. Advisory Services Network LLC now owns 6,250 shares of the asset manager’s stock worth $95,000 after purchasing an additional 744 shares during the last quarter. Kore Private Wealth LLC purchased a new stake in shares of Apollo Investment during the first quarter worth approximately $32,000. Finally, IHT Wealth Management LLC raised its position in Apollo Investment by 35.9% in the first quarter. IHT Wealth Management LLC now owns 17,108 shares of the asset manager’s stock worth $259,000 after acquiring an additional 4,522 shares in the last quarter. 41.55% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Investment

Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.

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Analyst Recommendations for Apollo Investment (NASDAQ:AINV)

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