Analysts Update Their Price Target On Apollo Investment Corporation (NASDAQ:AINV)
Nov 12 2016 by Michele Stevens
Finally, JPMorgan Chase & Co. raised their target price on shares of FS Investment Corp. from $9.00 to $9.50 and gave the stock a "neutral" rating in a research note on Thursday, August 11th. The latest reports which are now in issue on Friday 11th of November state 0 analysts have a rating of "strong buy", 0 analysts "buy", 0 analysts "neutral", 0 analysts "sell" and 0 analysts "strong sell". If you are selling a stock, you are going to get the bid price, if you are buying a stock you are going to get the ask price.
The share price of FS Investment Co.
Apollo Investment Corporation (NASDAQ:AINV) moved up 2.76% and closed its last trading session at $5.96. 774,818 shares of the company traded hands. Apollo Investment Corp. The company's 50-day moving average is $5.90 and its 200 day moving average is $5.75.
Apollo Investment Corporation was downgraded to "underperform" by analysts at Bank of America Merrill Lynch. Consensus short-term price target for Apollo Investment Corporation (NASDAQ:AINV) is now at $6.156. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.17 by $0.01. This was $0.01 away from what analysts had expected resulting in a surprise factor of 5.88%.
Cornerstone Financial Partners added FSIC to its portfolio by purchasing 177,777 company shares during the most recent quarter which is valued at $1,679,993. Investors of record on Wednesday, December 21st will be given a $0.2228 dividend. The ex-dividend date is Monday, December 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.07%. FS Investment Corp.'s dividend payout ratio is presently 130.88%.
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In other Apollo Investment Corp. news, Director Frank C. Puleo bought 4,180 shares of Apollo Investment Corp. stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average price of $6.01 per share, for a total transaction of $25,121.80. The insider owns 318,166 shares which have current market value of around $1928085.96.Mr. Edward J. Goldthorpe is another major inside shareholder in the company. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Apollo repurchased 3.1 million shares during the quarter and expanded its repurchase program in September, with management indicating that they will likely repurchase stock actively so long as it remains discounted to NAV/share. The disclosure for this purchase can be found here.
A number of other research firms have also recently commented on FSIC. Sumitomo Mitsui Trust Holdings Inc. now owns 11,508 shares of the company's stock valued at $104,000 after buying an additional 498 shares in the last quarter. Muzinich & Co. Inc. boosted its stake in shares of Apollo Investment Corp.by 3.8% in the third quarter. During the same quarter previous year, the company earned $0.21 EPS. BlackRock Group LTD boosted its stake in shares of Apollo Investment Corp.by 14.6% in the second quarter. Legal & General Group Plc now owns 460,427 shares of the company's stock valued at $2,553,000 after buying an additional 92,848 shares during the last quarter.
Institutional investors have recently bought and sold shares of the stock. Institutional investors own 42.83% of the company's stock.
By Looking at Earnings History, Out of 12 Quarters when the Earnings were reported, Apollo Investment Corporation (NASDAQ:AINV) beats earnings by 33%, The Stock Missed Earnings 2 times and has met earnings 6 times. The Company's investment objectives are to generate current income and a long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.