Apollo Investment (AINV) Cut to “Sell” at ValuEngine

ValuEngine cut shares of Apollo Investment (NASDAQ:AINV) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of Apollo Investment from a hold rating to a buy rating in a report on Tuesday, November 13th. Wells Fargo & Co dropped their target price on shares of Apollo Investment from $21.00 to $18.00 and set an outperform rating on the stock in a report on Thursday, October 4th. Citigroup initiated coverage on shares of Apollo Investment in a report on Thursday, August 23rd. They issued a sell rating and a $15.00 target price on the stock. Zacks Investment Research cut shares of Apollo Investment from a hold rating to a sell rating in a report on Friday, September 28th. Finally, National Securities reaffirmed a neutral rating and issued a $18.00 target price on shares of Apollo Investment in a report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $18.21.

Shares of AINV stock opened at $15.05 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $1.09 billion, a PE ratio of 8.34, a PEG ratio of 1.69 and a beta of 0.82. Apollo Investment has a 52-week low of $14.84 and a 52-week high of $18.00.

Apollo Investment (NASDAQ:AINV) last issued its earnings results on Tuesday, October 30th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. The company had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $67.38 million. Apollo Investment had a net margin of 26.47% and a return on equity of 9.22%. Apollo Investment’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. As a group, equities analysts forecast that Apollo Investment will post 1.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Thursday, December 20th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $0.60 dividend on an annualized basis and a yield of 3.99%. Apollo Investment’s dividend payout ratio (DPR) is currently 98.36%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in Apollo Investment by 4.4% in the 3rd quarter. Wells Fargo & Company MN now owns 4,481,748 shares of the asset manager’s stock valued at $24,380,000 after buying an additional 190,301 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in Apollo Investment in the 3rd quarter valued at about $9,591,000. Nomura Holdings Inc. grew its stake in Apollo Investment by 2.7% in the 2nd quarter. Nomura Holdings Inc. now owns 1,478,894 shares of the asset manager’s stock valued at $8,237,000 after buying an additional 38,363 shares during the last quarter. Van ECK Associates Corp grew its stake in Apollo Investment by 1.6% in the 2nd quarter. Van ECK Associates Corp now owns 1,446,508 shares of the asset manager’s stock valued at $8,057,000 after buying an additional 22,521 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Apollo Investment by 19.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,445,292 shares of the asset manager’s stock valued at $7,862,000 after buying an additional 234,696 shares during the last quarter. Institutional investors and hedge funds own 44.56% 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.

See Also: What is a Swap?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Apollo Investment (NASDAQ:AINV)

Receive News & Ratings for Apollo Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Investment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply