Apollo Investment Corporation (NASDAQ:AINV) issued its quarterly earnings results on Friday. The asset manager reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16, Briefing.com reports. The business had revenue of $66.46 million for the quarter, compared to the consensus estimate of $67.75 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share.
Apollo Investment Corporation (NASDAQ AINV) traded up $0.18 during trading hours on Friday, reaching $6.09. 1,595,373 shares of the company’s stock traded hands, compared to its average volume of 790,283. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $1.29 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 1.86 and a beta of 0.93.
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A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and set a $7.00 price objective on shares of Apollo Investment Corporation in a report on Friday, July 14th. National Securities reissued a “neutral” rating and set a $6.00 price objective on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. BidaskClub lowered shares of Apollo Investment Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Finally, Compass Point raised shares of Apollo Investment Corporation from a “neutral” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Apollo Investment Corporation has an average rating of “Hold” and an average target price of $6.28.
A hedge fund recently raised its stake in Apollo Investment Corporation stock. The Manufacturers Life Insurance Company lifted its stake in shares of Apollo Investment Corporation (NASDAQ:AINV) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,016 shares of the asset manager’s stock after purchasing an additional 168 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Apollo Investment Corporation were worth $115,000 at the end of the most recent quarter. 45.73% of the stock is owned by hedge funds and other institutional investors.
About Apollo Investment Corporation
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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