Apollo Investment (AINV) Lifted to “Hold” at ValuEngine

Apollo Investment (NASDAQ:AINV) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday, ValuEngine reports.

AINV has been the topic of several other reports. Zacks Investment Research lowered shares of Apollo Investment from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. BidaskClub lowered shares of Apollo Investment from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. National Securities restated a “neutral” rating and set a $18.00 target price on shares of Apollo Investment in a research report on Friday, February 8th. Finally, Citigroup upgraded shares of Apollo Investment from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $14.00 in a research report on Tuesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.40.

Shares of Apollo Investment stock traded up $0.13 on Friday, reaching $15.80. 247,851 shares of the stock were exchanged, compared to its average volume of 227,863. Apollo Investment has a 1-year low of $12.05 and a 1-year high of $18.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22.

Apollo Investment (NASDAQ:AINV) last issued its earnings results on Wednesday, February 6th. The asset manager reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). Apollo Investment had a return on equity of 9.25% and a net margin of 23.80%. The company had revenue of $64.00 million for the quarter, compared to analyst estimates of $64.31 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Apollo Investment will post 1.83 EPS for the current year.

Apollo Investment announced that its board has approved a stock repurchase plan on Wednesday, February 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. grew its position in shares of Apollo Investment by 43.7% in the first quarter. Whittier Trust Co. now owns 2,192 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 667 shares during the last quarter. Garner Asset Management Corp lifted its stake in shares of Apollo Investment by 1.0% during the first quarter. Garner Asset Management Corp now owns 86,288 shares of the asset manager’s stock valued at $1,306,000 after buying an additional 816 shares during the period. Zeke Capital Advisors LLC raised its stake in Apollo Investment by 8.6% during the first quarter. Zeke Capital Advisors LLC now owns 12,252 shares of the asset manager’s stock worth $185,000 after purchasing an additional 973 shares during the period. SG Americas Securities LLC raised its stake in Apollo Investment by 7.6% during the first quarter. SG Americas Securities LLC now owns 25,385 shares of the asset manager’s stock worth $384,000 after purchasing an additional 1,800 shares during the period. Finally, TCI Wealth Advisors Inc. raised its stake in Apollo Investment by 23.3% during the first quarter. TCI Wealth Advisors Inc. now owns 12,329 shares of the asset manager’s stock worth $187,000 after purchasing an additional 2,329 shares during the period. Institutional investors and hedge funds own 45.28% of the company’s stock.

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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