Apollo Investment Corp. (AINV) Shares Sold by Bramshill Investments LLC
Bramshill Investments LLC cut its stake in Apollo Investment Corp. (NASDAQ:AINV) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,026 shares of the asset manager’s stock after selling 9,799 shares during the period. Apollo Investment makes up approximately 0.7% of Bramshill Investments LLC’s holdings, making the stock its 19th largest holding. Bramshill Investments LLC’s holdings in Apollo Investment were worth $1,866,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Cozad Asset Management Inc. purchased a new position in Apollo Investment in the second quarter valued at about $1,417,000. Centaurus Financial Inc. purchased a new position in Apollo Investment in the second quarter valued at about $520,000. Macquarie Group Ltd. increased its holdings in Apollo Investment by 20.8% in the second quarter. Macquarie Group Ltd. now owns 103,242 shares of the asset manager’s stock valued at $575,000 after buying an additional 17,800 shares in the last quarter. Raymond James & Associates increased its holdings in Apollo Investment by 58.2% in the second quarter. Raymond James & Associates now owns 130,538 shares of the asset manager’s stock valued at $727,000 after buying an additional 48,000 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Apollo Investment by 1.6% in the second quarter. Van ECK Associates Corp now owns 1,446,508 shares of the asset manager’s stock valued at $8,057,000 after buying an additional 22,521 shares in the last quarter. 46.33% of the stock is owned by institutional investors.
Shares of AINV opened at $5.44 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. Apollo Investment Corp. has a 1-year low of $5.18 and a 1-year high of $6.20. The company has a market cap of $1.19 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Stockholders of record on Monday, September 24th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.03%. Apollo Investment’s dividend payout ratio (DPR) is 98.36%.
A number of brokerages have issued reports on AINV. BidaskClub cut shares of Apollo Investment from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. ValuEngine cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Citigroup began coverage on shares of Apollo Investment in a report on Thursday, August 23rd. They issued a “sell” rating and a $5.00 target price for the company. Finally, National Securities reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment in a report on Wednesday, August 15th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.25.
About Apollo Investment
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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