KBW Reiterates a Hold Rating on Apollo Investment Corp

By Ryan Adsit

KBW analyst Ryan Lynch reiterated a Hold rating on Apollo Investment Corp (NASDAQ: AINV) on August 29 and set a price target of $6.50. The company’s shares closed yesterday at $5.90.

According to TipRanks.com, Lynch is a 3-star analyst with an average return of 2.7% and a 50.8% success rate. Lynch covers the Financial sector, focusing on stocks such as Fidus Investment Corporation, BlackRock Capital Investment, and Pennantpark Investment 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 June 30, the company posted quarterly revenue of $-169,968,000 and quarterly net profit of $28.78 million. In comparison, last year the company earned revenue of $63.48 million and had a GAAP net loss of $42.09 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.