A number of other analysts have also weighed in on AINV. Zacks Investment Research lowered shares of Apollo Investment from a hold rating to a sell rating in a report on Wednesday, April 3rd. ValuEngine lowered shares of Apollo Investment from a hold rating to a sell rating in a report on Friday, April 5th. Barclays set a $16.00 price target on shares of Apollo Investment and gave the company a hold rating in a report on Friday, December 14th. National Securities reissued a neutral rating and issued a $18.00 price target on shares of Apollo Investment in a report on Friday, February 8th. Finally, Citigroup raised shares of Apollo Investment from a sell rating to a neutral rating and lowered their price target for the company from $15.00 to $14.00 in a report on Tuesday, January 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $17.40.
Shares of Apollo Investment stock opened at $15.30 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.06 billion, a P/E ratio of 8.36, a P/E/G ratio of 1.63 and a beta of 1.23. Apollo Investment has a fifty-two week low of $12.05 and a fifty-two week high of $18.00.
Apollo Investment declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 21st were paid a $0.45 dividend. The ex-dividend date was Wednesday, March 20th. This is a boost from Apollo Investment’s previous quarterly dividend of $0.15. This represents a $1.80 dividend on an annualized basis and a yield of 11.76%. Apollo Investment’s dividend payout ratio (DPR) is presently 98.36%.
A number of hedge funds have recently made changes to their positions in the business. TCI Wealth Advisors Inc. boosted its stake in Apollo Investment by 23.3% in the first quarter. TCI Wealth Advisors Inc. now owns 12,329 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 2,329 shares during the last quarter. First Allied Advisory Services Inc. boosted its stake in Apollo Investment by 29.3% in the fourth quarter. First Allied Advisory Services Inc. now owns 13,974 shares of the asset manager’s stock valued at $175,000 after acquiring an additional 3,164 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Apollo Investment in the fourth quarter valued at approximately $87,000. Pearl River Capital LLC bought a new position in Apollo Investment in the fourth quarter valued at approximately $94,000. Finally, FNY Investment Advisers LLC bought a new position in Apollo Investment in the fourth quarter valued at approximately $104,000. 45.03% of the stock is currently owned by hedge funds and other institutional investors.
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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