Apollo Investment (NASDAQ:AINV – Get Rating) had its target price increased by stock analysts at Citigroup to $13.00 in a research note issued on Tuesday, Stock Target Advisor reports. Citigroup’s price objective points to a potential downside of 3.85% from the stock’s current price.
Several other research firms have also commented on AINV. Compass Point upped their price objective on Apollo Investment to $13.50 in a research report on Tuesday. Wells Fargo & Company upgraded Apollo Investment from an “equal weight” rating to an “overweight” rating and set a $13.50 price objective on the stock in a research report on Wednesday, August 3rd.
Apollo Investment Price Performance
Shares of NASDAQ AINV opened at $13.52 on Tuesday. The business’s 50 day moving average price is $11.46 and its 200 day moving average price is $12.48. The firm has a market cap of $858.78 million, a P/E ratio of 15.54 and a beta of 1.65. Apollo Investment has a 52 week low of $10.01 and a 52 week high of $14.00. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.62.
Apollo Investment (NASDAQ:AINV – Get Rating) last issued its earnings results on Tuesday, August 2nd. The asset manager reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $53.40 million for the quarter, compared to analyst estimates of $54.04 million. Apollo Investment had a return on equity of 9.28% and a net margin of 25.87%. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, sell-side analysts expect that Apollo Investment will post 1.5 earnings per share for the current year.
Insider Activity
In related news, CEO Howard Widra bought 20,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $13.01 per share, for a total transaction of $260,200.00. Following the completion of the transaction, the chief executive officer now directly owns 303,645 shares in the company, valued at $3,950,421.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.
Institutional Trading of Apollo Investment
Several institutional investors have recently modified their holdings of AINV. Van ECK Associates Corp boosted its position in Apollo Investment by 50.9% during the first quarter. Van ECK Associates Corp now owns 1,483,336 shares of the asset manager’s stock worth $19,610,000 after acquiring an additional 500,339 shares during the last quarter. LPL Financial LLC boosted its position in Apollo Investment by 3.6% during the fourth quarter. LPL Financial LLC now owns 436,326 shares of the asset manager’s stock worth $5,581,000 after acquiring an additional 14,959 shares during the last quarter. Arete Wealth Advisors LLC boosted its holdings in Apollo Investment by 45.5% in the 1st quarter. Arete Wealth Advisors LLC now owns 385,662 shares of the asset manager’s stock valued at $5,098,000 after purchasing an additional 120,627 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in Apollo Investment by 9.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 348,771 shares of the asset manager’s stock valued at $4,610,000 after purchasing an additional 30,527 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Apollo Investment by 14.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 286,747 shares of the asset manager’s stock valued at $3,667,000 after purchasing an additional 35,346 shares during the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.
Apollo Investment Company Profile
Apollo Investment Corporation is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.
Further Reading
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Source: defenseworld.net
