Apollo Investment Corporation (AINV) Short Interest Down 37.7% in September
Apollo Investment Corporation (NASDAQ:AINV) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,438,234 shares, a decline of 37.7% from the August 31st total of 2,307,984 shares. Based on an average daily trading volume, of 972,641 shares, the short-interest ratio is currently 1.5 days. Currently, 0.7% of the company’s stock are short sold.
Apollo Investment Corporation (AINV) opened at 6.14 on Thursday. Apollo Investment Corporation has a one year low of $5.65 and a one year high of $6.82. The company’s 50-day moving average is $6.04 and its 200-day moving average is $6.33.
Apollo Investment Corporation (NASDAQ:AINV) last issued its quarterly earnings data on Friday, August 4th. The asset manager reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The business had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $65.19 million. During the same period last year, the business earned $0.17 EPS. The business’s revenue was down 12.8% on a year-over-year basis. Equities research analysts forecast that Apollo Investment Corporation will post $0.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 9.77%. The ex-dividend date of this dividend is Wednesday, September 20th. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 150.00%.
A number of brokerages recently weighed in on AINV. Zacks Investment Research downgraded shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. National Securities restated a “neutral” rating and set a $6.00 target price on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. BidaskClub downgraded shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $7.00 target price on shares of Apollo Investment Corporation in a report on Friday, July 14th. Finally, Bank of America Corporation restated an “underperform” rating and set a $6.00 target price (up from $5.50) on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Apollo Investment Corporation presently has a consensus rating of “Hold” and a consensus price target of $6.25.
A number of large investors have recently modified their holdings of AINV. Bank of New York Mellon Corp lifted its stake in Apollo Investment Corporation by 48.5% during the 1st quarter. Bank of New York Mellon Corp now owns 21,132 shares of the asset manager’s stock valued at $138,000 after acquiring an additional 6,901 shares in the last quarter. Comerica Bank bought a new position in Apollo Investment Corporation during the 1st quarter valued at $365,000. Karp Capital Management Corp bought a new position in Apollo Investment Corporation during the 1st quarter valued at $101,000. Ameriprise Financial Inc. lifted its stake in Apollo Investment Corporation by 152.7% during the 1st quarter. Ameriprise Financial Inc. now owns 51,648 shares of the asset manager’s stock valued at $339,000 after acquiring an additional 31,207 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Apollo Investment Corporation by 3.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 27,951 shares of the asset manager’s stock valued at $183,000 after acquiring an additional 820 shares in the last quarter. Institutional investors and hedge funds own 45.84% of the company’s stock.
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Apollo Investment Corporation 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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