Apollo Investment (NASDAQ:AINV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $19.00 target price on the asset manager’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.78% from the stock’s current price.

According to Zacks, “Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company’s investment portfolio will be principally in middle-market private companies. “

Several other research analysts also recently weighed in on the company. TheStreet downgraded Zimmer Biomet from a “b-” rating to a “c” rating in a report on Friday, June 7th. ValuEngine upgraded Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. National Securities reiterated a “neutral” rating and issued a $18.00 price target on shares of Apollo Investment in a report on Monday, May 20th. Finally, BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.67.

AINV traded down $0.11 during trading on Monday, hitting $16.41. The company’s stock had a trading volume of 11,525 shares, compared to its average volume of 267,841. The business has a 50 day simple moving average of $16.17. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $1.13 billion, a PE ratio of 9.07, a PEG ratio of 9.04 and a beta of 1.11. Apollo Investment has a twelve month low of $12.05 and a twelve month high of $18.00.

Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings results on Thursday, May 16th. The asset manager reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $61.41 million during the quarter, compared to the consensus estimate of $64.29 million. Apollo Investment had a return on equity of 9.48% and a net margin of 28.20%. Apollo Investment’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. As a group, research analysts expect that Apollo Investment will post 1.83 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new position in shares of Apollo Investment in the 4th quarter worth approximately $146,000. Jane Street Group LLC boosted its holdings in shares of Apollo Investment by 109.0% in the 4th quarter. Jane Street Group LLC now owns 28,675 shares of the asset manager’s stock worth $356,000 after purchasing an additional 14,956 shares during the period. First Allied Advisory Services Inc. boosted its holdings in shares of Apollo Investment by 29.3% in the 4th quarter. First Allied Advisory Services Inc. now owns 13,974 shares of the asset manager’s stock worth $175,000 after purchasing an additional 3,164 shares during the period. Millennium Management LLC purchased a new position in shares of Apollo Investment in the 4th quarter worth approximately $585,000. Finally, TCI Wealth Advisors Inc. boosted its holdings in shares of Apollo Investment by 23.3% in the 1st quarter. TCI Wealth Advisors Inc. now owns 12,329 shares of the asset manager’s stock worth $187,000 after purchasing an additional 2,329 shares during the period. Institutional investors and hedge funds own 41.91% of the company’s stock.

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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