Apollo Investment (AINV) Price Target Raised to $21.00 at Raymond James

Apollo Investment (NASDAQ:AINV) had its price target upped by research analysts at Raymond James from $7.00 to $21.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “outperform” rating on the asset manager’s stock. Raymond James’ price target suggests a potential upside of 29.85% from the company’s current price.

A number of other brokerages have also recently issued reports on AINV. Zacks Investment Research cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Friday, August 10th. BidaskClub raised shares of Apollo Investment from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. TheStreet cut shares of Apollo Investment from a “b-” rating to a “c” rating in a report on Monday, August 13th. National Securities reissued a “neutral” rating and issued a $18.00 target price on shares of Apollo Investment in a report on Wednesday, August 15th. Finally, 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. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Apollo Investment currently has a consensus rating of “Hold” and an average target price of $18.21.

NASDAQ AINV traded down $0.33 during trading hours on Tuesday, reaching $16.17. The company’s stock had a trading volume of 100,956 shares, compared to its average volume of 738,087. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.69. Apollo Investment has a 52 week low of $14.84 and a 52 week high of $18.00. The stock has a market capitalization of $1.13 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.74 and a beta of 0.82.

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, hitting the Zacks’ consensus estimate of $0.45. Apollo Investment had a net margin of 26.47% and a return on equity of 9.22%. The firm had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $67.38 million. During the same quarter last year, the company posted $0.48 earnings per share. Apollo Investment’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that Apollo Investment will post 0.6 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AINV. Wells Fargo & Company MN raised its holdings in shares of Apollo Investment by 8.0% during the second quarter. Wells Fargo & Company MN now owns 4,291,447 shares of the asset manager’s stock valued at $23,902,000 after buying an additional 317,111 shares during the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of Apollo Investment during the second quarter valued at approximately $402,000. Dean Capital Investments Management LLC raised its holdings in shares of Apollo Investment by 48.2% during the second quarter. Dean Capital Investments Management LLC now owns 96,807 shares of the asset manager’s stock valued at $539,000 after buying an additional 31,506 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Apollo Investment during the second quarter valued at approximately $655,000. Finally, LSV Asset Management raised its holdings in shares of Apollo Investment by 4.0% during the second quarter. LSV Asset Management now owns 312,700 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 12,100 shares during the last quarter. 44.56% of the stock is currently owned by institutional investors.

Apollo Investment Company Profile

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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