Royal Bank of Canada Lowers Stake in Apollo Investment Corporation (AINV)
Royal Bank of Canada trimmed its position in shares of Apollo Investment Corporation (NASDAQ:AINV) by 26.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,832 shares of the asset manager’s stock after selling 56,500 shares during the quarter. Royal Bank of Canada’s holdings in Apollo Investment Corporation were worth $1,015,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Rhumbline Advisers raised its position in Apollo Investment Corporation by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after buying an additional 58 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in Apollo Investment Corporation by 0.3% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 64,433 shares of the asset manager’s stock valued at $412,000 after buying an additional 164 shares during the last quarter. Pinebridge Investments L.P. raised its position in Apollo Investment Corporation by 0.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 63,452 shares of the asset manager’s stock valued at $405,000 after buying an additional 433 shares during the last quarter. GAM Holding AG raised its position in Apollo Investment Corporation by 2.7% in the 2nd quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock valued at $106,000 after buying an additional 441 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Apollo Investment Corporation by 8.8% in the 2nd quarter. HighTower Advisors LLC now owns 17,884 shares of the asset manager’s stock valued at $115,000 after buying an additional 1,451 shares during the last quarter. 45.73% of the stock is currently owned by institutional investors.
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AINV has been the subject of a number of analyst reports. Compass Point initiated coverage on Apollo Investment Corporation in a research report on Thursday. They issued a “neutral” rating and a $6.25 price target for the company. Bank of America Corporation reissued an “underperform” rating and issued a $6.00 price target (up from $5.50) on shares of Apollo Investment Corporation in a research report on Wednesday, August 9th. BidaskClub lowered Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised Apollo Investment Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, J P Morgan Chase & Co reduced their price objective on Apollo Investment Corporation from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Apollo Investment Corporation currently has a consensus rating of “Hold” and an average price target of $6.28.
Apollo Investment Corporation (NASDAQ:AINV) opened at $6.09 on Friday. The stock has a market capitalization of $1,337.94, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. 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 announced its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $66.46 million during the quarter, compared to the consensus estimate of $67.75 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. equities research analysts expect that Apollo Investment Corporation will post 0.63 earnings per share for the current fiscal year.
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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