Apollo Investment - AINV Stock Forecast, Price & News

Apollo Investment Corporation is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies. It provides direct equity capital, mezzanine, first lien secured loans, stretch senior loans, unitranche loans, second lien secured loans 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. It prefers to invest in preferred equity, common equity / interests and warrants and makes equity co-investments. It may invest in cash equivalents, U.S. government securities, high-quality debt investments that mature in one year or less, high-yield bonds, distressed debt, non-U.S. investments, or securities of public companies that are not thinly traded. It also focuses on other investments such as collateralized loan obligations (CLOs) and credit-linked notes (CLNs). The fund typically invests in construction and building materials, business services, plastics & rubber, advertising, capital equipment, education, cable television, chemicals, consumer products/goods durable and non-durable and customer services, direct marketing, energy - oil & gas, electricity and utilities. The fund also invest in aerospace & defense, wholesale, telecommunications, financial services, hotel, gaming, leisure, restaurants; environmental industries, healthcare and pharmaceuticals, high tech industries, beverages, food and tobacco, manufacturing, media - diversified & production, printing and publishing, retail, automation, aviation and consumer transport, transportation, cargo and distribution. It primarily invests in United States. It primarily invests between $20 million and $250 million in its portfolio companies. The fund seeks to make investments with stated maturities of five to 10 years.

Apollo Investment Stock Performance

Apollo Investment stock traded up $0.25 during midday trading on Wednesday, hitting $13.52. The company's stock had a trading volume of 321,103 shares, compared to its average volume of 333,580. Apollo Investment has a 1-year low of $10.01 and a 1-year high of $14.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.56 and a quick ratio of 1.56. The company has a 50-day moving average price of $11.46 and a two-hundred day moving average price of $12.48. The company has a market cap of $858.78 million, a price-to-earnings ratio of 15.54 and a beta of 1.65.

Apollo Investment (NASDAQ:AINV - Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The asset manager reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. The business had revenue of $53.40 million during the quarter, compared to analysts' expectations of $54.04 million. Apollo Investment had a net margin of 25.87% and a return on equity of 9.28%. During the same quarter in the previous year, the company earned $0.39 EPS. As a group, sell-side analysts predict that Apollo Investment will post 1.5 earnings per share for the current year.

Apollo Investment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Tuesday, September 20th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 9.47%. The ex-dividend date is Monday, September 19th. Apollo Investment's payout ratio is presently 142.53%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company raised shares of Apollo Investment from an "equal weight" rating to an "overweight" rating and set a $13.50 target price for the company in a report on Wednesday, August 3rd. Citigroup lifted their target price on shares of Apollo Investment to $13.00 in a report on Tuesday. Finally, Compass Point lifted their target price on shares of Apollo Investment to $13.50 in a report on Tuesday.

Insider Activity

In other news, CEO Howard Widra bought 20,000 shares of the company's stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $13.01 per share, for a total transaction of $260,200.00. Following the transaction, the chief executive officer now owns 303,645 shares of the company's stock, valued at $3,950,421.45. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.92% of the company's stock.