Apollo Investment Corp. (AINV) is Downgraded by BofA/Merrill to Underperform

Apollo Investment Corp. (AINV) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 8, 2016.

Many Wall Street Analysts have commented on Apollo Investment Corp.. Apollo Investment Corp. was Downgraded by Keefe Bruyette to ” Mkt Perform” on May 20, 2016. Apollo Investment Corp. was Downgraded by BB&T Capital Mkts to ” Hold” on May 20, 2016.

On the company’s financial health, Apollo Investment Corp. reported $0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 19, 2016. Analyst had a consensus of $0.21. The company had revenue of $85.30 million for the quarter, compared to analysts expectations of $90.74 million. The company’s revenue was down -16.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Apollo Investment Corp. closed down -0.09 points or -1.60% at $5.53 with 7,79,304 shares getting traded on Tuesday. Post opening the session at $5.55, the shares hit an intraday low of $5.47 and an intraday high of $5.585 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 13, 2016, Hilary E. Ackermann (director) purchased 4,000 shares at $5.47 per share price. According to the SEC, 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.

Apollo Investment Corp.

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