Sigma Planning Corp decreased its stake in shares of Apollo Investment Corp. (NASDAQ:AINV) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 95,933 shares of the asset manager’s stock after selling 11,245 shares during the quarter. Sigma Planning Corp’s holdings in Apollo Investment were worth $543,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in AINV. Alpha Windward LLC acquired a new stake in Apollo Investment in the 3rd quarter worth about $462,000. Wells Fargo & Company MN raised its stake in Apollo Investment by 4.5% in the 3rd quarter. Wells Fargo & Company MN now owns 3,030,493 shares of the asset manager’s stock worth $18,516,000 after purchasing an additional 129,374 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in Apollo Investment by 12.5% in the 3rd quarter. Commonwealth Equity Services Inc now owns 302,986 shares of the asset manager’s stock worth $1,851,000 after purchasing an additional 33,747 shares in the last quarter. Telemus Capital LLC raised its stake in Apollo Investment by 34.9% in the 3rd quarter. Telemus Capital LLC now owns 1,245,571 shares of the asset manager’s stock worth $7,610,000 after purchasing an additional 322,123 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in Apollo Investment by 20.2% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 306,400 shares of the asset manager’s stock worth $1,872,000 after purchasing an additional 51,400 shares in the last quarter. 46.77% of the stock is owned by institutional investors and hedge funds.
AINV has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Apollo Investment from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Compass Point assumed coverage on shares of Apollo Investment in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $6.25 price objective for the company. SunTrust Banks restated a “buy” rating on shares of Apollo Investment in a research report on Friday, November 3rd. National Securities restated a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment in a research report on Tuesday, November 7th. Finally, Raymond James Financial upgraded shares of Apollo Investment from a “market perform” rating to an “outperform” rating and set a $7.00 target price for the company in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $6.38.
Apollo Investment (NASDAQ:AINV) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $64.75 million during the quarter, compared to analysts’ expectations of $65.94 million. Apollo Investment had a net margin of 28.18% and a return on equity of 9.45%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. sell-side analysts predict that Apollo Investment Corp. will post 0.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Tuesday, March 27th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date of this dividend is Monday, March 26th. Apollo Investment’s dividend payout ratio is 176.47%.
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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