Apollo Investment Co. (NASDAQ:AINV – Get a rating) received an average recommendation of “Hold” from the six analysts who currently cover the company, reports MarketBeat Ratings. One equity research analyst rated the stock with a sell rating, four issued a hold rating and one issued a buy rating on the company. The average 1-year target price among analysts who have rated the stock over the past year is $12.92.
A number of stock analysts have recently commented on the company. Citigroup downgraded Apollo Investment from a “sell” rating to a “neutral” rating and raised its price target for the company from $12.00 to $13.50 in a Monday, Feb. 7 research note. StockNews.com launched coverage on Apollo Investment in a research note on Thursday, March 31. They set a “hold” rating on the stock. To finish, Zacks Investment Research downgraded Apollo Investment from a “buy” rating to a “hold” rating in a Tuesday, April 12 research note.
AINV opened at $11.91 on Friday. The company has a debt ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. Apollo Investment has a fifty-two week low of $11.75 and a fifty-two week high of $15.18. The company has a market capitalization of $758.04 million, a PE ratio of 6.44 and a beta of 1.72. The company’s 50-day moving average is $12.97 and its 200-day moving average is $13.10.
Apollo Investment said its board of directors launched a share buyback program on Thursday, Feb. 3 that allows the company to repurchase $25.00 million in stock. This redemption authorization allows the asset manager to purchase up to 3% of its shares through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Institutional investors have recently changed their positions in the stock. Camelot Portfolios LLC increased its stake in Apollo Investment by 19.5% in the 4th quarter. Camelot Portfolios LLC now owns 207,022 shares of the asset manager worth $2,648,000 after purchasing an additional 33,824 shares in the last quarter. Peak Financial Advisors LLC increased its stake in Apollo Investment by 24.4% during the 4th quarter. Peak Financial Advisors LLC now owns 12,833 shares of the asset manager valued at $164,000 after acquiring 2,521 additional shares during the period. First Horizon Advisors Inc. increased its stake in Apollo Investment by 146.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,037 shares of the asset manager valued at $26,000 after acquiring an additional 1,210 shares during the period. Sigma Planning Corp increased its stake in Apollo Investment by 4.9% during the 4th quarter. Sigma Planning Corp now owns 39,751 shares of the asset manager valued at $508,000 after acquiring an additional 1,855 shares during the period. Finally, Centaurus Financial Inc. increased its stake in Apollo Investment by 4.0% during the 3rd quarter. Centaurus Financial Inc. now owns 23,225 shares of the asset manager valued at $301,000 after acquiring an additional 884 shares during the period. Institutional investors hold 30.83% of the company’s shares.
About Apollo Investment (Get a rating)
Apollo Investment Corporation is a closed-end, externally managed, non-diversified investment company which has elected to be treated as a business development company (BDC) under the Investment Companies Act 1940 (the Act of 1940) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, development capital, refinancing and middle market private companies.
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