PineBridge Investments L.P. Acquires 4,738 Shares of Apollo Investment Corp. (AINV)
PineBridge Investments L.P. raised its position in shares of Apollo Investment Corp. (NASDAQ:AINV) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,750 shares of the company’s stock after buying an additional 4,738 shares during the period. PineBridge Investments L.P.’s holdings in Apollo Investment Corp. were worth $342,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. raised its position in Apollo Investment Corp. by 4.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 6,818,837 shares of the company’s stock worth $37,776,000 after buying an additional 286,724 shares in the last quarter. Bank of Montreal Can acquired a new position in Apollo Investment Corp. during the second quarter worth approximately $21,567,000. ING Groep NV raised its position in Apollo Investment Corp. by 3.3% in the second quarter. ING Groep NV now owns 1,181,663 shares of the company’s stock worth $6,558,000 after buying an additional 37,242 shares in the last quarter. BlackRock Group LTD raised its position in Apollo Investment Corp. by 2.2% in the first quarter. BlackRock Group LTD now owns 1,058,847 shares of the company’s stock worth $5,877,000 after buying an additional 23,053 shares in the last quarter. Finally, Patriot Wealth Management Inc. raised its position in Apollo Investment Corp. by 2.0% in the second quarter. Patriot Wealth Management Inc. now owns 735,550 shares of the company’s stock worth $4,075,000 after buying an additional 14,435 shares in the last quarter. Institutional investors own 42.91% of the company’s stock.
Apollo Investment Corp. (NASDAQ:AINV) opened at 5.85 on Wednesday. The firm’s 50-day moving average is $5.97 and its 200-day moving average is $5.68. Apollo Investment Corp. has a 12 month low of $4.26 and a 12 month high of $6.39.
Apollo Investment Corp. (NASDAQ:AINV) last released its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.02. Apollo Investment Corp. had a positive return on equity of 10.57% and a negative net margin of 26.23%. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities research analysts forecast that Apollo Investment Corp. will post $0.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.31%. Apollo Investment Corp.’s dividend payout ratio (DPR) is presently -146.34%.
Several analysts have recently weighed in on AINV shares. National Securities reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment Corp. in a report on Monday, August 8th. Jefferies Group reaffirmed a “buy” rating on shares of Apollo Investment Corp. in a report on Friday, August 5th. Finally, Bank of America Corp. downgraded shares of Apollo Investment Corp. from a “neutral” rating to an “underperform” rating in a report on Friday, July 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.48.
In other news, Director Hilary E. Ackermann acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were acquired at an average price of $6.02 per share, with a total value of $36,120.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $60,200. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James C. Zelter acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was purchased at an average cost of $5.58 per share, for a total transaction of $111,600.00. Following the acquisition, the chief executive officer now owns 318,166 shares in the company, valued at $1,775,366.28. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by corporate insiders.
Apollo Investment Corp. Company Profile
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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