WFG Advisors LP Has $2.22 Million Position in Apollo Investment Corporation (AINV)
WFG Advisors LP cut its stake in Apollo Investment Corporation (NASDAQ:AINV) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,720 shares of the asset manager’s stock after selling 47,996 shares during the period. WFG Advisors LP’s holdings in Apollo Investment Corporation were worth $2,216,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in AINV. Bank of New York Mellon Corp boosted its holdings in Apollo Investment Corporation by 48.5% in the first 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 during the last quarter. Comerica Bank bought a new stake in Apollo Investment Corporation in the first quarter valued at approximately $365,000. Karp Capital Management Corp bought a new stake in Apollo Investment Corporation in the first quarter valued at approximately $101,000. Ameriprise Financial Inc. boosted its holdings in Apollo Investment Corporation by 152.7% in the first 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 during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings 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 acquiring an additional 820 shares during the last quarter. Institutional investors and hedge funds own 45.84% of the company’s stock.
AINV has been the topic of several analyst reports. BidaskClub cut Apollo Investment Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $6.50 target price on shares of Apollo Investment Corporation in a report on Thursday, August 31st. National Securities reiterated a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Apollo Investment Corporation in a report on Friday, September 22nd. Finally, Zacks Investment Research upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. 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’s stock. Apollo Investment Corporation presently has a consensus rating of “Hold” and an average target price of $6.33.
Shares of Apollo Investment Corporation (NASDAQ:AINV) traded up 0.33% during mid-day trading on Friday, reaching $6.03. The company had a trading volume of 563,696 shares. The stock has a 50 day moving average price of $6.02 and a 200 day moving average price of $6.33. 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 quarterly earnings data on Friday, August 4th. The asset manager reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. The firm had revenue of $66.70 million for the quarter, compared to analyst estimates of $65.19 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. On average, equities research analysts forecast that Apollo Investment Corporation will post $0.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.95%. Apollo Investment Corporation’s dividend payout ratio is currently 150.00%.
Apollo Investment Corporation 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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