Apollo Investment Corp Gets a Hold Rating from BMO Capital

By Austin Angelo

In a report released today, James Fotheringham from BMO Capital reiterated a Hold rating on Apollo Investment Corp (NASDAQ: AINV), with a price target of $6. The company’s shares opened today at $6.37.

According to TipRanks.com, Fotheringham is a 5-star analyst with an average return of 11.0% and a 70.0% success rate. Fotheringham covers the Financial sector, focusing on stocks such as Discover Financial Services, Goldman Sachs Group Inc, and Credit Acceptance Corp.

Apollo Investment Corp has an analyst consensus of Moderate Buy, with a price target consensus of $6.63.

Based on Apollo Investment Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $106 million and quarterly net profit of $11.29 million. In comparison, last year the company earned revenue of $9.6 million and had a GAAP net loss of $23.4 million.

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Apollo Investment Corp. is a business development company that invests in middle market companies with revenues of $50 million – $2 billion located in the US. Sectors of interest include aviation, building materials, business services, cable television, chemicals, consumer products, direct marketing, distribution, energy or utilities, financial services, healthcare, manufacturing, media , oil & gas, publishing, retail, and transportation. The fund provides financing primarily in various forms of debt including secured, unsecured and mezzanine debt and to a lesser extent, equity with an investment size ranging from $20 to $250 million. It also makes investments in public companies.