Duncker Streett & Co. Inc. increased its stake in Apollo Investment Corporation (NASDAQ:AINV) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,433 shares of the asset manager’s stock after buying an additional 164 shares during the period. Duncker Streett & Co. Inc.’s holdings in Apollo Investment Corporation were worth $412,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in AINV. Muzinich & Co. Inc. increased its stake in Apollo Investment Corporation by 40.9% in the first quarter. Muzinich & Co. Inc. now owns 8,846,122 shares of the asset manager’s stock worth $58,031,000 after buying an additional 2,569,874 shares in the last quarter. Morgan Stanley increased its stake in Apollo Investment Corporation by 1.6% in the first quarter. Morgan Stanley now owns 3,525,248 shares of the asset manager’s stock worth $23,125,000 after buying an additional 54,340 shares in the last quarter. Wells Fargo & Company MN increased its stake in Apollo Investment Corporation by 5.6% in the first quarter. Wells Fargo & Company MN now owns 2,714,931 shares of the asset manager’s stock worth $17,809,000 after buying an additional 143,668 shares in the last quarter. UBS Group AG increased its stake in Apollo Investment Corporation by 54.7% in the first quarter. UBS Group AG now owns 2,461,815 shares of the asset manager’s stock worth $16,150,000 after buying an additional 870,491 shares in the last quarter. Finally, Ares Management LLC increased its stake in Apollo Investment Corporation by 2.7% in the first quarter. Ares Management LLC now owns 2,432,945 shares of the asset manager’s stock worth $15,960,000 after buying an additional 65,000 shares in the last quarter. 46.24% of the stock is owned by institutional investors and hedge funds.
Apollo Investment Corporation (AINV) traded up 0.235% during trading on Wednesday, reaching $6.395. 39,593 shares of the company were exchanged. Apollo Investment Corporation has a one year low of $5.42 and a one year high of $6.82. The firm’s 50-day moving average is $6.38 and its 200 day moving average is $6.34.
Apollo Investment Corporation (NASDAQ:AINV) last announced its earnings results on Thursday, May 18th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. Apollo Investment Corporation had a net margin of 6.56% and a return on equity of 9.81%. The business had revenue of $66.30 million during the quarter, compared to analyst estimates of $68.89 million. During the same period in the previous year, the business posted $0.20 earnings per share. Apollo Investment Corporation’s revenue for the quarter was down 22.3% on a year-over-year basis. On average, analysts anticipate that Apollo Investment Corporation will post $0.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Wednesday, June 21st were given a dividend of $0.15 per share. The ex-dividend date was Monday, June 19th. This represents a $0.60 annualized dividend and a yield of 9.40%. Apollo Investment Corporation’s payout ratio is presently 750.00%.
A number of research firms have issued reports on AINV. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $6.50 price objective on shares of Apollo Investment Corporation in a report on Friday, April 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Apollo Investment Corporation in a report on Friday, July 14th. National Securities reaffirmed a “neutral” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a report on Thursday, May 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a report on Thursday, May 18th. Finally, Zacks Investment Research downgraded shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Apollo Investment Corporation presently has an average rating of “Hold” and an average target price of $6.40.
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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