Citigroup Inc. lessened its stake in Apollo Investment Corporation (NASDAQ:AINV) by 64.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,328 shares of the asset manager’s stock after selling 96,916 shares during the quarter. Citigroup Inc.’s holdings in Apollo Investment Corporation were worth $334,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AINV. Karp Capital Management Corp acquired a new stake in Apollo Investment Corporation during the first quarter worth $101,000. Atria Investments LLC acquired a new stake in Apollo Investment Corporation during the second quarter worth $103,000. GAM Holding AG increased its stake in Apollo Investment Corporation by 2.7% during the second quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock worth $106,000 after acquiring an additional 441 shares during the last quarter. Rhumbline Advisers increased its stake in Apollo Investment Corporation by 0.3% during the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock worth $107,000 after acquiring an additional 58 shares during the last quarter. Finally, Essex Financial Services Inc. acquired a new stake in Apollo Investment Corporation during the second quarter worth $112,000. 45.71% of the stock is owned by hedge funds and other institutional investors.
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Several research firms have issued reports on AINV. Zacks Investment Research cut Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and set a $7.00 target price on shares of Apollo Investment Corporation in a research note on Friday, July 14th. National Securities restated a “neutral” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a research report on Wednesday, August 9th. BidaskClub lowered Apollo Investment Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods set a $7.00 price target on Apollo Investment Corporation and gave the stock a “hold” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Apollo Investment Corporation has a consensus rating of “Hold” and an average target price of $6.33.
Apollo Investment Corporation (NASDAQ:AINV) opened at 5.93 on Friday. Apollo Investment Corporation has a 12-month low of $5.65 and a 12-month high of $6.82. The company has a 50-day moving average price of $6.02 and a 200-day moving average price of $6.30.
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, meeting the consensus estimate of $0.15. Apollo Investment Corporation had a net margin of 33.04% and a return on equity of 9.75%. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $65.19 million. During the same period in the previous year, the business earned $0.17 EPS. The firm’s revenue was down 12.8% on a year-over-year basis. Equities analysts expect that Apollo Investment Corporation will post $0.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st were given a $0.15 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 10.12%. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 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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