Advisory Services Network LLC increased its stake in shares of Apollo Investment Corp. (NASDAQ:AINV) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,250 shares of the asset manager’s stock after acquiring an additional 744 shares during the quarter. Advisory Services Network LLC’s holdings in Apollo Investment were worth $95,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Summit Global Investments purchased a new position in shares of Apollo Investment in the 4th quarter worth $587,000. Strategic Wealth Advisors Group LLC purchased a new position in shares of Apollo Investment in the 4th quarter worth $1,080,000. Claraphi Advisory Network LLC purchased a new position in shares of Apollo Investment in the 4th quarter worth $206,000. Geode Capital Management LLC purchased a new position in shares of Apollo Investment in the 4th quarter worth $146,000. Finally, Hound Partners LLC purchased a new position in shares of Apollo Investment in the 4th quarter worth $620,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.
NASDAQ AINV traded up $0.04 on Thursday, hitting $16.31. 286,143 shares of the company traded hands, compared to its average volume of 342,622. The firm has a market cap of $1.11 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 8.99 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. The business has a 50 day simple moving average of $16.05. Apollo Investment Corp. has a 52-week low of $12.05 and a 52-week high of $18.00.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, June 19th. This represents a $1.80 dividend on an annualized basis and a yield of 11.04%. Apollo Investment’s dividend payout ratio is presently 99.45%.
A number of equities analysts have recently issued reports on AINV shares. Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine upgraded Yirendai from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. National Securities reiterated a “neutral” rating and set a $18.00 target price on shares of Apollo Investment in a research report on Monday, May 20th. TheStreet downgraded Zimmer Biomet from a “b-” rating to a “c” rating in a research report on Friday, June 7th. Finally, BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Apollo Investment has a consensus rating of “Hold” and an average price target of $17.40.
Apollo Investment Company Profile
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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