Apollo Investment Corporation (AINV) Position Lifted by Hillsdale Investment Management Inc.
Hillsdale Investment Management Inc. increased its holdings in shares of Apollo Investment Corporation (NASDAQ:AINV) by 20.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306,400 shares of the asset manager’s stock after acquiring an additional 51,400 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.14% of Apollo Investment worth $1,872,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. GAM Holding AG grew its holdings in Apollo Investment by 2.7% in the 2nd quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock valued at $106,000 after buying an additional 441 shares in the last quarter. Rhumbline Advisers grew its holdings in Apollo Investment by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after buying an additional 58 shares in the last quarter. Essex Financial Services Inc. acquired a new position in Apollo Investment in the 2nd quarter valued at $112,000. HighTower Advisors LLC grew its holdings in Apollo Investment by 8.8% in the 2nd quarter. HighTower Advisors LLC now owns 17,884 shares of the asset manager’s stock valued at $115,000 after buying an additional 1,451 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Apollo Investment by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,016 shares of the asset manager’s stock valued at $115,000 after buying an additional 168 shares in the last quarter. 46.62% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on AINV. Compass Point raised Apollo Investment from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. Keefe, Bruyette & Woods set a $7.00 price objective on Apollo Investment and gave the company a “hold” rating in a report on Thursday, October 5th. Bank of America reaffirmed an “underperform” rating and issued a $6.00 price objective (up from $5.50) on shares of Apollo Investment in a report on Wednesday, August 9th. Zacks Investment Research raised Apollo Investment from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Apollo Investment in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $6.41.
Shares of Apollo Investment Corporation (NASDAQ AINV) opened at $6.04 on Thursday. The stock has a market capitalization of $1,321.58, a price-to-earnings ratio of 9.31, a PEG ratio of 1.94 and a beta of 0.93. Apollo Investment Corporation has a 1-year low of $5.69 and a 1-year high of $6.82. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.59.
Apollo Investment (NASDAQ:AINV) last released its earnings results on Friday, November 3rd. The asset manager reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $66.46 million for the quarter, compared to analyst estimates of $67.75 million. Apollo Investment had a return on equity of 9.51% and a net margin of 29.87%. Apollo Investment’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. research analysts anticipate that Apollo Investment Corporation will post 0.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 21st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 9.93%. The ex-dividend date of this dividend is Wednesday, December 20th. Apollo Investment’s dividend payout ratio (DPR) is currently 166.67%.
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Apollo Investment Company 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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