Garner Asset Management Corp increased its stake in Apollo Investment Corp. (NASDAQ:AINV) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 184,642 shares of the asset manager’s stock after purchasing an additional 11,510 shares during the quarter. Garner Asset Management Corp owned approximately 0.08% of Apollo Investment worth $1,045,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership purchased a new position in shares of Apollo Investment during the 2nd quarter valued at $7,552,000. Telemus Capital LLC grew its position in shares of Apollo Investment by 34.9% during the 3rd quarter. Telemus Capital LLC now owns 1,245,571 shares of the asset manager’s stock valued at $7,610,000 after purchasing an additional 322,123 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Apollo Investment by 78.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 505,014 shares of the asset manager’s stock valued at $3,228,000 after purchasing an additional 222,583 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in Apollo Investment by 22.9% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,150,098 shares of the asset manager’s stock worth $6,509,000 after acquiring an additional 214,346 shares in the last quarter. Finally, Confluence Investment Management LLC grew its position in Apollo Investment by 36.4% in the fourth quarter. Confluence Investment Management LLC now owns 751,435 shares of the asset manager’s stock worth $4,253,000 after acquiring an additional 200,333 shares in the last quarter. 46.77% of the stock is currently owned by institutional investors.
Shares of Apollo Investment Corp. (AINV) traded up $0.09 during trading on Wednesday, reaching $5.48. 549,400 shares of the company were exchanged, compared to its average volume of 1,001,090. The company has a market capitalization of $1,200.00, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.73 and a beta of 0.88. Apollo Investment Corp. has a 12 month low of $5.30 and a 12 month high of $6.82. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.61.
Apollo Investment (NASDAQ:AINV) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. Apollo Investment had a net margin of 28.18% and a return on equity of 9.45%. The company had revenue of $64.75 million for the quarter, compared to the consensus estimate of $65.94 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. equities research analysts predict that Apollo Investment Corp. will post 0.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Tuesday, March 27th will be given a $0.15 dividend. The ex-dividend date is Monday, March 26th. This represents a $0.60 annualized dividend and a yield of 10.95%. Apollo Investment’s payout ratio is presently 176.47%.
Several research analysts recently issued reports on AINV shares. TheStreet upgraded shares of Apollo Investment from a “c” rating to a “b-” rating in a research report on Thursday, November 16th. SunTrust Banks reissued a “buy” rating on shares of Apollo Investment in a research note on Friday, November 3rd. Compass Point raised shares of Apollo Investment from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. ValuEngine raised shares of Apollo Investment from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $6.00 price objective on shares of Apollo Investment in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.38.
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Apollo Investment 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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