Apollo Investment Corporation (NASDAQ:AINV) released its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16, Briefing.com reports. The firm had revenue of $66.46 million during the quarter, compared to analysts’ expectations of $67.75 million. Apollo Investment Corporation had a return on equity of 9.51% and a net margin of 29.87%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share.
Apollo Investment Corporation (AINV) traded down $0.05 during midday trading on Friday, reaching $6.06. The company’s stock had a trading volume of 729,200 shares, compared to its average volume of 881,838. The company has a quick ratio of 0.64, a current ratio of 0.61 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1,323.76, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. Apollo Investment Corporation has a 12 month low of $5.69 and a 12 month high of $6.82.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 21st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.60 annualized dividend and a yield of 9.90%. Apollo Investment Corporation’s dividend payout ratio is 166.67%.
A number of analysts recently issued reports on AINV shares. Compass Point started coverage on Apollo Investment Corporation in a research report on Thursday, November 2nd. They set a “neutral” rating and a $6.25 price objective for the company. Bank of America Corporation restated an “underperform” rating and set a $6.00 target price (up from $5.50) on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. BidaskClub lowered Apollo Investment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, J P Morgan Chase & Co cut their target price on Apollo Investment Corporation from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.41.
An institutional investor recently raised its position in Apollo Investment Corporation stock. The Manufacturers Life Insurance Company raised its stake in shares of Apollo Investment Corporation (NASDAQ:AINV) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,016 shares of the asset manager’s stock after purchasing an additional 168 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Apollo Investment Corporation were worth $115,000 as of its most recent filing with the Securities and Exchange Commission. 45.76% of the stock is owned by institutional investors and hedge funds.
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Apollo Investment Corporation Company Profile
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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