Bank of America Downgrades Apollo Investment Corp. to Underperform

Brokerage firm Bank of America Downgrades its rating on Apollo Investment Corp.(NASDAQ:AINV). The shares have been rated Underperform. The rating by Bank of America was issued on Jul 8, 2016.

In a different note, On May 20, 2016, Jefferies said it Maintains its rating on Apollo Investment Corp.. In the research note, the firm Lowers the price-target to $7.50 per share. The shares have been rated ‘Buy’ by the firm. On May 20, 2016, Keefe Bruyette & Woods said it Downgrades its rating on Apollo Investment Corp.. In the research note, the firm Lowers the price-target to $6.00 per share. The shares have been rated ‘Market Perform’ by the firm.

Apollo Investment Corp. (AINV) shares turned negative on Wednesdays trading session with the shares closing down -0.07 points or -1.25% at a volume of 7,75,013. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.61. The peak price level was also seen at $5.61 while the days lowest was $5.51. Finally the shares closed at $5.52. The 52-week high of the shares is $7.29 while the 52-week low is $4.26. According to the latest information available, the market cap of the company is $1,248 M.

Apollo Investment Corp.(AINV) last announced its earnings results on May 19, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $85.33M. Analysts had an estimated revenue of $90.08M. Earnings per share were $0.20. Analysts had estimated an EPS of $0.21.

Several Insider Transactions has been reported to the SEC. On Jun 13, 2016, Hilary E. Ackermann (director) purchased 4,000 shares at $5.47 per share price.Also, On Dec 18, 2015, Gregory W. Hunt (CFO) purchased 5,000 shares at $5.49 per share price.On Aug 11, 2015, Edward J. Goldthorpe (President) purchased 10,000 shares at $6.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Apollo Investment Corporation (Apollo Investment) is a closed-end externally managed non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. The Company invests primarily in various forms of debt investments including secured and unsecured debt loan investments and/or equity in private middle-market companies. It may also invest in the securities of public companies and structured products such as collateralized loan obligations (CLOs) and credit-linked notes (CLNs). It invests in middle-market which include companies with annual revenues between $50 million and $2 billion. It may also invest a portion of the portfolio in other investment opportunities including foreign securities and structured products. Apollo Investment Management L.P. is the Company’s investment adviser.

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