Apollo Investment Corp. (NASDAQ:AINV) – Equities researchers at SunTrust Banks dropped their FY2020 earnings per share estimates for shares of Apollo Investment in a research report issued to clients and investors on Wednesday, October 31st. SunTrust Banks analyst M. Hughes now anticipates that the asset manager will post earnings per share of $0.67 for the year, down from their previous estimate of $0.69.
AINV has been the subject of a number of other reports. Wells Fargo & Co dropped their price objective on shares of Apollo Investment from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, October 4th. Zacks Investment Research cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. National Securities reissued a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment in a research note on Thursday. ValuEngine cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, BidaskClub raised shares of Apollo Investment from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.07.
Apollo Investment (NASDAQ:AINV) last posted its earnings results on Tuesday, October 30th. The asset manager reported $0.15 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. Apollo Investment had a net margin of 26.47% and a return on equity of 9.22%. The company had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $67.38 million. During the same period last year, the company posted $0.16 earnings per share. Apollo Investment’s quarterly revenue was down .6% on a year-over-year basis.
Several large investors have recently modified their holdings of the business. LSV Asset Management lifted its holdings in shares of Apollo Investment by 4.0% in the 2nd quarter. LSV Asset Management now owns 312,700 shares of the asset manager’s stock worth $1,741,000 after acquiring an additional 12,100 shares during the last quarter. Ramsey Quantitative Systems lifted its holdings in shares of Apollo Investment by 94.0% in the 3rd quarter. Ramsey Quantitative Systems now owns 25,463 shares of the asset manager’s stock worth $139,000 after acquiring an additional 12,339 shares during the last quarter. DnB Asset Management AS lifted its holdings in shares of Apollo Investment by 7.4% in the 2nd quarter. DnB Asset Management AS now owns 207,091 shares of the asset manager’s stock worth $1,156,000 after acquiring an additional 14,200 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Apollo Investment by 20.8% in the 2nd quarter. Macquarie Group Ltd. now owns 103,242 shares of the asset manager’s stock worth $575,000 after acquiring an additional 17,800 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Apollo Investment in the 2nd quarter worth about $106,000. 46.27% of the stock is owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.45%. Apollo Investment’s payout ratio is currently 98.36%.
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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