Connable Office Inc. continued to hold its stake in Apollo Investment Corporation (NASDAQ:AINV) during the second quarter, Holdings Channel reports. The firm owned 16,895 shares of the asset manager’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Apollo Investment Corporation were worth $108,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AINV. Muzinich & Co. Inc. raised 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. UBS Group AG raised its position 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 valued at $16,150,000 after buying an additional 870,491 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position 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 valued at $5,354,000 after buying an additional 448,680 shares in the last quarter. James Investment Research Inc. bought a new position in Apollo Investment Corporation during the second quarter valued at $1,190,000. Finally, Van ECK Associates Corp raised its position 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 valued at $7,747,000 after buying an additional 185,947 shares in the last quarter. Institutional investors and hedge funds own 46.29% of the company’s stock.

Apollo Investment Corporation (NASDAQ:AINV) opened at 6.29 on Friday. The firm has a 50-day moving average of $6.37 and a 200 day moving average of $6.37. Apollo Investment Corporation has a 1-year low of $5.65 and a 1-year high of $6.82.

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, hitting the Zacks’ consensus estimate of $0.15. The business had revenue of $66.70 million for the quarter, compared to the consensus estimate of $65.19 million. Apollo Investment Corporation had a net margin of 33.04% and a return on equity of 9.75%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. Equities research analysts expect that Apollo Investment Corporation will post $0.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 9.54%. Apollo Investment Corporation’s dividend payout ratio (DPR) is 150.00%.

WARNING: “Connable Office Inc. Holds Position in Apollo Investment Corporation (AINV)” was published by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/08/12/connable-office-inc-holds-position-in-apollo-investment-corporation-ainv.html.

Several research firms have weighed in on AINV. Zacks Investment Research lowered shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $6.50 price objective on shares of Apollo Investment Corporation in a research note on Friday, April 28th. National Securities reiterated a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment Corporation in a research note on Thursday, May 18th. BidaskClub lowered shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $6.00 price objective (up previously from $5.50) on shares of Apollo Investment Corporation in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given 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 $6.33.

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.

Want to see what other hedge funds are holding AINV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Investment Corporation (NASDAQ:AINV).

Institutional Ownership by Quarter for Apollo Investment Corporation (NASDAQ:AINV)

Receive News & Ratings for Apollo Investment Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Investment Corporation and related companies with MarketBeat.com's FREE daily email newsletter.