Morgan Stanley Purchases 54,340 Shares of Apollo Investment Corporation (AINV)
Morgan Stanley increased its position in Apollo Investment Corporation (NASDAQ:AINV) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,525,248 shares of the asset manager’s stock after buying an additional 54,340 shares during the period. Morgan Stanley’s holdings in Apollo Investment Corporation were worth $23,125,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Karp Capital Management Corp acquired a new position in Apollo Investment Corporation during the first quarter worth $101,000. Daiwa Securities Group Inc. purchased a new position in shares of Apollo Investment Corporation during the first quarter worth approximately $115,000. Founders Financial Securities LLC purchased a new position in shares of Apollo Investment Corporation during the first quarter worth approximately $134,000. Bank of New York Mellon Corp increased its position in shares of Apollo Investment Corporation by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 21,132 shares of the asset manager’s stock worth $138,000 after buying an additional 6,901 shares during the period. Finally, United Capital Financial Advisers LLC increased its position in shares of Apollo Investment Corporation by 3.0% in the fourth quarter. United Capital Financial Advisers LLC now owns 26,448 shares of the asset manager’s stock worth $155,000 after buying an additional 764 shares during the period. 46.23% of the stock is owned by institutional investors and hedge funds.
Shares of Apollo Investment Corporation (NASDAQ:AINV) traded up 0.16% during midday trading on Friday, reaching $6.36. 509,921 shares of the company traded hands. The company’s 50 day moving average is $6.38 and its 200-day moving average is $6.36. Apollo Investment Corporation has a 12 month low of $5.42 and a 12 month high of $6.82.
Apollo Investment Corporation (NASDAQ:AINV) last issued its quarterly earnings results on Friday, August 4th. The asset manager reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. Apollo Investment Corporation had a return on equity of 9.81% and a net margin of 6.56%. The company had revenue of $66.70 million during the quarter, compared to analyst estimates of $65.19 million. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities analysts anticipate that Apollo Investment Corporation will post $0.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.43%. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 750.00%.
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A number of equities analysts have commented on AINV shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Apollo Investment Corporation in a research note on Friday, July 14th. Zacks Investment Research raised shares of Apollo Investment Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $6.50 price target on shares of Apollo Investment Corporation in a research note on Friday, April 28th. BMO Capital Markets reissued a “hold” rating and issued a $6.00 price target on shares of Apollo Investment Corporation in a research note on Tuesday, April 11th. Finally, National Securities reissued a “neutral” rating and issued a $6.00 price target on shares of Apollo Investment Corporation in a research note on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Apollo Investment Corporation presently has a consensus rating of “Hold” and an average price target of $6.40.
Apollo Investment Corporation 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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