Apollo Investment Corp. (NASDAQ:AINV) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $17.40.
A number of brokerages have weighed in on AINV. BidaskClub cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research report on Friday, December 28th. Zacks Investment Research cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised shares of Apollo Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Barclays set a $16.00 target price on shares of Apollo Investment and gave the stock a “hold” rating in a research report on Friday, December 14th. Finally, Citigroup raised shares of Apollo Investment from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $14.00 in a research report on Tuesday, January 22nd.
Shares of AINV stock opened at $15.28 on Friday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.73 and a current ratio of 0.73. Apollo Investment has a fifty-two week low of $12.05 and a fifty-two week high of $18.00.
Apollo Investment declared that its board has approved a share repurchase program on Wednesday, February 6th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the asset manager to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 21st were given a dividend of $0.45 per share. This is a boost from Apollo Investment’s previous quarterly dividend of $0.15. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.78%. The ex-dividend date was Wednesday, March 20th. Apollo Investment’s payout ratio is presently 98.36%.
Several hedge funds and other institutional investors have recently bought and sold shares of AINV. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Apollo Investment during the fourth quarter worth $87,000. Pearl River Capital LLC bought a new stake in shares of Apollo Investment in the fourth quarter worth $94,000. FNY Investment Advisers LLC bought a new stake in shares of Apollo Investment in the fourth quarter worth $104,000. Caxton Associates LP bought a new stake in shares of Apollo Investment in the third quarter worth $108,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Apollo Investment in the third quarter worth $116,000. 45.03% 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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