Compass Point Upgrades Apollo Investment Corporation (AINV) to “Buy”

Apollo Investment Corporation (NASDAQ:AINV) was upgraded by stock analysts at Compass Point from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities analysts have also recently issued reports on AINV. Jefferies Group LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Apollo Investment Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub cut Apollo Investment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. National Securities reiterated a “neutral” rating and issued a $6.00 price target on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $6.00 price target (up previously from $5.50) on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Apollo Investment Corporation has an average rating of “Hold” and an average target price of $6.28.

Shares of Apollo Investment Corporation (NASDAQ AINV) traded up $0.22 during mid-day trading on Friday, hitting $6.09. The stock had a trading volume of 1,595,373 shares, compared to its average volume of 790,283. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1,337.94, a PE ratio of 9.37, a PEG ratio of 1.93 and a beta of 0.93. Apollo Investment Corporation has a 12 month low of $5.65 and a 12 month high of $6.82.

Apollo Investment Corporation (NASDAQ:AINV) last announced its earnings results on Friday, November 3rd. The asset manager reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $66.46 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. equities research analysts forecast that Apollo Investment Corporation will post 0.63 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Muzinich & Co. Inc. raised its position in shares of Apollo Investment Corporation by 8.1% during the second quarter. Muzinich & Co. Inc. now owns 9,566,415 shares of the asset manager’s stock worth $61,129,000 after purchasing an additional 720,293 shares during the period. Morgan Stanley raised its position in shares of Apollo Investment Corporation by 1.6% during the first quarter. Morgan Stanley now owns 3,525,248 shares of the asset manager’s stock worth $23,125,000 after purchasing an additional 54,340 shares during the period. Wells Fargo & Company MN raised its position in shares of Apollo Investment Corporation by 6.9% during the second quarter. Wells Fargo & Company MN now owns 2,901,119 shares of the asset manager’s stock worth $18,538,000 after purchasing an additional 186,188 shares during the period. Bank of America Corp DE raised its position in shares of Apollo Investment Corporation by 0.7% during the first quarter. Bank of America Corp DE now owns 1,766,375 shares of the asset manager’s stock worth $11,587,000 after purchasing an additional 12,227 shares during the period. Finally, Van ECK Associates Corp raised its position in Apollo Investment Corporation by 28.8% in the 2nd quarter. Van ECK Associates Corp now owns 1,520,764 shares of the asset manager’s stock valued at $9,718,000 after buying an additional 339,843 shares during the last quarter. 45.73% of the stock is currently owned by 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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