Creative Planning cut its stake in shares of Apollo Investment Corporation (NASDAQ:AINV) by 65.1% during the second quarter, Holdings Channel reports. The institutional investor owned 25,740 shares of the asset manager’s stock after selling 47,990 shares during the period. Creative Planning’s holdings in Apollo Investment Corporation were worth $164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AINV. TCI Wealth Advisors Inc. increased its position in Apollo Investment Corporation by 2.4% in the first quarter. TCI Wealth Advisors Inc. now owns 24,474 shares of the asset manager’s stock valued at $161,000 after buying an additional 582 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Apollo Investment Corporation by 2.2% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 34,682 shares of the asset manager’s stock valued at $228,000 after buying an additional 750 shares in the last quarter. Neuberger Berman Group LLC increased its position in Apollo Investment Corporation by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 174,720 shares of the asset manager’s stock valued at $1,146,000 after buying an additional 800 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Apollo Investment Corporation by 3.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 27,951 shares of the asset manager’s stock valued at $183,000 after buying an additional 820 shares in the last quarter. Finally, Green Square Capital LLC increased its position in Apollo Investment Corporation by 2.6% in the first quarter. Green Square Capital LLC now owns 56,057 shares of the asset manager’s stock valued at $376,000 after buying an additional 1,394 shares in the last quarter. 46.29% of the stock is owned by hedge funds and other institutional investors.

Shares of Apollo Investment Corporation (NASDAQ AINV) traded up 0.079% during mid-day trading on Thursday, hitting $6.345. The company’s stock had a trading volume of 224,257 shares. The stock has a 50-day moving average of $6.37 and a 200-day moving average of $6.37. Apollo Investment Corporation has a 12-month low of $5.65 and a 12-month high of $6.82.

Apollo Investment Corporation (NASDAQ:AINV) last issued its earnings results on Friday, August 4th. The asset manager reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The company had revenue of $66.70 million during the quarter, compared to the consensus estimate of $65.19 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s revenue was down 12.8% compared to the same quarter last year. On average, analysts predict that Apollo Investment Corporation will post $0.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 9.46%. The ex-dividend date of this dividend is Wednesday, September 20th. Apollo Investment Corporation’s payout ratio is 150.00%.

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A number of analysts have issued reports on AINV shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a research note on Thursday, May 18th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $6.00 target price (up from $5.50) on shares of Apollo Investment Corporation in a research note on Wednesday. National Securities reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a research note on Wednesday. Zacks Investment Research raised Apollo Investment Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods set a $7.00 target price on Apollo Investment Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $6.33.

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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Institutional Ownership by Quarter for Apollo Investment Corporation (NASDAQ:AINV)

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