Advisors Asset Management Inc. Has $2.35 Million Holdings in Apollo Investment Corporation (AINV)
Advisors Asset Management Inc. raised its stake in Apollo Investment Corporation (NASDAQ:AINV) by 16.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 384,474 shares of the asset manager’s stock after acquiring an additional 54,261 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.18% of Apollo Investment worth $2,349,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AINV. Arrowstreet Capital Limited Partnership acquired a new position in Apollo Investment in the second quarter valued at approximately $7,552,000. Muzinich & Co. Inc. lifted its holdings in Apollo Investment by 8.1% in the second quarter. Muzinich & Co. Inc. now owns 9,566,415 shares of the asset manager’s stock valued at $61,129,000 after acquiring an additional 720,293 shares during the period. Van ECK Associates Corp lifted its holdings in Apollo Investment by 28.8% in the second quarter. Van ECK Associates Corp now owns 1,520,764 shares of the asset manager’s stock valued at $9,718,000 after acquiring an additional 339,843 shares during the period. Telemus Capital LLC lifted its holdings in Apollo Investment by 34.9% in the third quarter. Telemus Capital LLC now owns 1,245,571 shares of the asset manager’s stock valued at $7,610,000 after acquiring an additional 322,123 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Apollo Investment by 78.8% in the second quarter. Goldman Sachs Group Inc. now owns 505,014 shares of the asset manager’s stock valued at $3,228,000 after acquiring an additional 222,583 shares during the period. 46.31% of the stock is owned by institutional investors.
Apollo Investment Corporation (NASDAQ:AINV) opened at $6.07 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $1,325.95, a P/E ratio of 9.34, a PEG ratio of 1.94 and a beta of 0.93. Apollo Investment Corporation has a 52 week low of $5.69 and a 52 week high of $6.82.
Apollo Investment (NASDAQ:AINV) last announced its earnings results on Friday, November 3rd. The asset manager reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The business had revenue of $66.46 million during the quarter, compared to the consensus estimate of $67.75 million. Apollo Investment had a return on equity of 9.51% and a net margin of 29.87%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. research analysts anticipate that Apollo Investment Corporation will post 0.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 21st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 9.88%. The ex-dividend date is Wednesday, December 20th. Apollo Investment’s payout ratio is 166.67%.
A number of brokerages have issued reports on AINV. Compass Point raised Apollo Investment from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. Keefe, Bruyette & Woods set a $7.00 price target on Apollo Investment and gave the company a “hold” rating in a report on Thursday, October 5th. Bank of America Corporation reissued an “underperform” rating and issued a $6.00 price target (up from $5.50) on shares of Apollo Investment in a report on Wednesday, August 9th. Zacks Investment Research raised Apollo Investment from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. reissued a “buy” rating on shares of Apollo Investment in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $6.41.
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About Apollo Investment
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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