Greenwich Investment Management Inc. Sells 18,475 Shares of Apollo Investment Corporation (AINV)
Greenwich Investment Management Inc. cut its holdings in shares of Apollo Investment Corporation (NASDAQ:AINV) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 591,300 shares of the asset manager’s stock after selling 18,475 shares during the period. Apollo Investment Corporation makes up approximately 4.4% of Greenwich Investment Management Inc.’s holdings, making the stock its 9th biggest position. Greenwich Investment Management Inc.’s holdings in Apollo Investment Corporation were worth $3,778,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC raised its holdings in shares of Apollo Investment Corporation by 20.2% during the second quarter. SG Americas Securities LLC now owns 256,451 shares of the asset manager’s stock valued at $1,639,000 after acquiring an additional 43,138 shares during the period. Morgan Stanley raised its holdings in shares of Apollo Investment Corporation by 1.6% during the first quarter. Morgan Stanley now owns 3,525,248 shares of the asset manager’s stock valued at $23,125,000 after acquiring an additional 54,340 shares during the period. Green Square Capital LLC raised its holdings in shares of Apollo Investment Corporation by 2.6% during the first quarter. Green Square Capital LLC now owns 56,057 shares of the asset manager’s stock valued at $376,000 after acquiring an additional 1,394 shares during the period. Shelton Capital Management acquired a new stake in shares of Apollo Investment Corporation during the first quarter valued at approximately $492,000. Finally, Stifel Financial Corp raised its holdings in shares of Apollo Investment Corporation by 12.3% during the first quarter. Stifel Financial Corp now owns 177,462 shares of the asset manager’s stock valued at $1,167,000 after acquiring an additional 19,507 shares during the period. 45.84% of the stock is owned by institutional investors and hedge funds.
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Apollo Investment Corporation (NASDAQ AINV) traded down 1.01% during midday trading on Friday, hitting $5.89. 751,727 shares of the stock were exchanged. The company has a 50 day moving average price of $6.15 and a 200 day moving average price of $6.36. Apollo Investment Corporation has a one year low of $5.65 and a one year high of $6.82.
Apollo Investment Corporation (NASDAQ:AINV) last announced its earnings results on Friday, August 4th. The asset manager reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The firm 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 business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. On average, equities research analysts predict that Apollo Investment Corporation will post $0.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 20th. This represents a $0.60 annualized dividend and a yield of 10.19%. Apollo Investment Corporation’s dividend payout ratio (DPR) is currently 150.00%.
A number of equities research analysts have recently issued reports on AINV shares. BidaskClub lowered shares of Apollo Investment Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $6.50 price target on shares of Apollo Investment Corporation in a report on Thursday, August 31st. National Securities restated a “neutral” rating and set a $6.00 price target on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC restated a “buy” rating and set a $7.00 price target on shares of Apollo Investment Corporation in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Apollo Investment Corporation currently has an average rating of “Hold” and a consensus price target of $6.25.
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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