Invesco Ltd. lowered its position in shares of Apollo Investment Corp. (NASDAQ:AINV) by 32.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,995 shares of the asset manager’s stock after selling 48,975 shares during the quarter. Invesco Ltd. owned 0.15% of Apollo Investment worth $1,580,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of AINV. Rockefeller Capital Management L.P. purchased a new position in Apollo Investment in the 2nd quarter valued at approximately $26,000. Arlington Partners LLC bought a new position in Apollo Investment in the 2nd quarter valued at $36,000. BNP Paribas Arbitrage SA bought a new position in Apollo Investment in the 2nd quarter valued at $41,000. Barnett & Company Inc. boosted its holdings in Apollo Investment by 40.4% in the 2nd quarter. Barnett & Company Inc. now owns 6,250 shares of the asset manager’s stock valued at $99,000 after purchasing an additional 1,800 shares during the period. Finally, Advisory Services Network LLC boosted its holdings in Apollo Investment by 13.5% in the 1st quarter. Advisory Services Network LLC now owns 6,250 shares of the asset manager’s stock valued at $95,000 after purchasing an additional 744 shares during the period. 41.17% of the stock is currently owned by hedge funds and other institutional investors.
AINV traded up $0.03 during midday trading on Friday, reaching $16.36. The company’s stock had a trading volume of 354,400 shares, compared to its average volume of 342,659. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.05. Apollo Investment Corp. has a 1 year low of $12.05 and a 1 year high of $17.00. The stock’s 50-day moving average is $15.93 and its 200-day moving average is $16.06. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 8.77 and a beta of 1.09.
Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings results on Tuesday, November 5th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.11. The business had revenue of $70.32 million for the quarter, compared to analysts’ expectations of $68.67 million. Apollo Investment had a net margin of 23.47% and a return on equity of 10.28%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, equities research analysts forecast that Apollo Investment Corp. will post 1.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 11.00%. The ex-dividend date of this dividend is Thursday, December 19th. Apollo Investment’s dividend payout ratio (DPR) is presently 99.45%.
AINV has been the subject of a number of research analyst reports. Compass Point downgraded shares of Apollo Investment from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Monday, September 16th. ValuEngine raised shares of Apollo Investment from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Zacks Investment Research raised shares of Apollo Investment from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a research note on Wednesday. TheStreet cut shares of Apollo Investment from a “b-” rating to a “c” rating in a research report on Wednesday. Finally, BidaskClub upgraded shares of Apollo Investment from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. Apollo Investment currently has an average rating of “Hold” and an average target price of $17.29.
Apollo Investment Profile
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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