HighTower Advisors LLC lowered its stake in shares of Apollo Investment Corporation (NASDAQ:AINV) by 49.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,433 shares of the asset manager’s stock after selling 15,944 shares during the period. HighTower Advisors LLC’s holdings in Apollo Investment Corporation were worth $108,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. 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 during the period. 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 during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in Apollo Investment Corporation by 122.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 816,242 shares of the asset manager’s stock worth $5,354,000 after buying an additional 448,680 shares during the period. Highbridge Capital Management LLC bought a new stake in Apollo Investment Corporation during the fourth quarter worth approximately $1,436,000. Finally, Van ECK Associates Corp increased its stake in Apollo Investment Corporation by 18.7% in the first quarter. Van ECK Associates Corp now owns 1,180,921 shares of the asset manager’s stock worth $7,747,000 after buying an additional 185,947 shares during the period. 46.24% of the stock is owned by institutional investors.
Shares of Apollo Investment Corporation (AINV) opened at 6.38 on Thursday. Apollo Investment Corporation has a 52-week low of $5.42 and a 52-week high of $6.82. The firm has a 50-day moving average of $6.38 and a 200-day moving average of $6.34.
Apollo Investment Corporation (NASDAQ:AINV) last issued its earnings results on Thursday, May 18th. The asset manager reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $66.30 million for the quarter, compared to the consensus estimate of $68.89 million. During the same period in the previous year, the firm earned $0.20 earnings per share. Apollo Investment Corporation’s quarterly revenue was down 22.3% 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 year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Wednesday, June 21st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 9.40%. The ex-dividend date was Monday, June 19th. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 750.00%.
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AINV has been the subject of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Apollo Investment Corporation in a research report on Friday, April 7th. BMO Capital Markets reaffirmed a “hold” rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a research report on Tuesday, April 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $6.50 target price on shares of Apollo Investment Corporation in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, National Securities reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock 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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