Apollo Investment Corporation (AINV) Stake Boosted by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC boosted its position in Apollo Investment Corporation (NASDAQ:AINV) by 23.5% during the second quarter, Holdings Channel reports. The firm owned 119,794 shares of the asset manager’s stock after buying an additional 22,800 shares during the period. Janney Montgomery Scott LLC’s holdings in Apollo Investment Corporation were worth $765,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Karp Capital Management Corp purchased a new stake in shares of Apollo Investment Corporation during the first quarter worth about $101,000. Atria Investments LLC purchased a new stake in shares of Apollo Investment Corporation during the second quarter worth about $103,000. Daiwa Securities Group Inc. purchased a new stake in shares of Apollo Investment Corporation during the first quarter worth about $115,000. Aperio Group LLC increased its stake in shares of Apollo Investment Corporation by 22.3% in the second quarter. Aperio Group LLC now owns 18,744 shares of the asset manager’s stock worth $120,000 after buying an additional 3,417 shares during the period. Finally, Founders Financial Securities LLC purchased a new stake in shares of Apollo Investment Corporation during the first quarter worth about $134,000. 46.36% of the stock is currently owned by hedge funds and other institutional investors.
Apollo Investment Corporation (NASDAQ:AINV) opened at 6.33 on Wednesday. Apollo Investment Corporation has a 12-month low of $5.65 and a 12-month high of $6.82. The firm’s 50-day moving average is $6.37 and its 200 day moving average is $6.38.
Apollo Investment Corporation (NASDAQ:AINV) last announced its quarterly earnings data on Friday, August 4th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. Apollo Investment Corporation had a net margin of 33.04% and a return on equity of 9.75%. The company had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $65.19 million. During the same period in the previous year, the company posted $0.17 EPS. Apollo Investment Corporation’s revenue was down 12.8% compared to the same quarter last year. On average, equities analysts predict that Apollo Investment Corporation will post $0.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.48%. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 150.00%.
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A number of analysts recently issued reports on the stock. National Securities reissued a “neutral” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Bank of America Corporation reissued an “underperform” rating and set a $6.00 price target (up from $5.50) 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. Finally, BMO Capital Markets reissued a “hold” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a report on Thursday, May 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $6.33.
About Apollo Investment Corporation
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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