Apollo Investment (NASDAQ:AINV) had its price objective increased by Barclays from $6.00 to $18.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “equal weight” rating on the asset manager’s stock. Barclays’ target price suggests a potential upside of 16.20% from the stock’s previous close.
AINV has been the topic of several other reports. BidaskClub cut shares of Apollo Investment from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. Wells Fargo & Co decreased their price objective on shares of Apollo Investment from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 4th. ValuEngine cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Citigroup began coverage on shares of Apollo Investment in a research report on Thursday, August 23rd. They issued a “sell” rating and a $15.00 price objective on the stock. Finally, National Securities restated a “neutral” rating and issued a $18.00 price objective on shares of Apollo Investment in a research report on Thursday, November 1st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $18.21.
AINV stock opened at $15.49 on Tuesday. 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 company has a market capitalization of $1.11 billion, a P/E ratio of 8.46, a P/E/G ratio of 1.71 and a beta of 0.82. Apollo Investment has a 1-year low of $14.84 and a 1-year high of $18.00.
A number of institutional investors and hedge funds have recently modified their holdings of AINV. Verition Fund Management LLC purchased a new stake in Apollo Investment in the second quarter worth approximately $106,000. Caxton Associates LP purchased a new stake in Apollo Investment in the third quarter worth approximately $108,000. Russell Investments Group Ltd. purchased a new stake in Apollo Investment in the third quarter worth approximately $116,000. Ramsey Quantitative Systems boosted its stake in Apollo Investment by 94.0% in the third quarter. Ramsey Quantitative Systems now owns 25,463 shares of the asset manager’s stock worth $139,000 after buying an additional 12,339 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its stake in Apollo Investment by 313.5% in the third quarter. TCI Wealth Advisors Inc. now owns 27,091 shares of the asset manager’s stock worth $147,000 after buying an additional 20,540 shares in the last quarter. 44.56% of the stock is owned by institutional investors and hedge funds.
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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