According to Zacks, “Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company’s investment portfolio will be principally in middle-market private companies. “
Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Apollo Investment in a research note on Friday, June 18th. increased their price target on shares of Apollo Investment from $11.00 to $12.00 and gave the stock a “sell” rating in a research note on Monday, May 24th. Finally, Wells Fargo & Company downgraded shares of Apollo Investment from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $14.50 to $13.75 in a research note on Monday, May 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.92.
Apollo Investment (NASDAQ:AINV) last released its quarterly earnings results on Wednesday, May 19th. The asset manager reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $50.83 million during the quarter, compared to analyst estimates of $53.05 million. Apollo Investment had a net margin of 51.61% and a return on equity of 10.84%. During the same quarter in the prior year, the company earned $0.59 earnings per share. Sell-side analysts expect that Apollo Investment will post 1.49 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AINV. Clear Harbor Asset Management LLC acquired a new stake in Apollo Investment during the 1st quarter valued at $3,946,000. Van ECK Associates Corp grew its holdings in Apollo Investment by 16.2% during the 1st quarter. Van ECK Associates Corp now owns 1,121,729 shares of the asset manager’s stock valued at $15,390,000 after purchasing an additional 156,629 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Apollo Investment by 50.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 194,769 shares of the asset manager’s stock valued at $2,672,000 after purchasing an additional 65,177 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Apollo Investment by 101.5% during the 1st quarter. International Assets Investment Management LLC now owns 118,281 shares of the asset manager’s stock worth $1,441,000 after acquiring an additional 59,583 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Apollo Investment by 476.3% during the 4th quarter. IHT Wealth Management LLC now owns 63,749 shares of the asset manager’s stock worth $677,000 after acquiring an additional 52,687 shares in the last quarter. 33.41% 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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