Levin Capital Strategies L.P. grew its position in Apollo Investment Corp. (NASDAQ:AINV) by 145.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 731,148 shares of the asset manager’s stock after purchasing an additional 432,985 shares during the period. Levin Capital Strategies L.P.’s holdings in Apollo Investment were worth $3,977,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its stake in shares of Apollo Investment by 247.6% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 250,760 shares of the asset manager’s stock valued at $1,261,000 after buying an additional 178,620 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Apollo Investment in the 3rd quarter valued at approximately $116,000. Telemus Capital LLC grew its stake in shares of Apollo Investment by 1.5% in the 3rd quarter. Telemus Capital LLC now owns 1,352,893 shares of the asset manager’s stock valued at $7,360,000 after buying an additional 19,493 shares during the period. Ramsey Quantitative Systems grew its stake in shares of Apollo Investment by 94.0% in the 3rd quarter. Ramsey Quantitative Systems now owns 25,463 shares of the asset manager’s stock valued at $139,000 after buying an additional 12,339 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Apollo Investment by 30.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 605,577 shares of the asset manager’s stock worth $3,373,000 after purchasing an additional 141,704 shares during the period. 46.27% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the stock. TheStreet cut shares of Apollo Investment from a “b-” rating to a “c” rating in a research report on Monday, August 13th. Citigroup assumed coverage on shares of Apollo Investment in a research report on Thursday, August 23rd. They set a “sell” rating and a $5.00 price objective for the company. National Securities reaffirmed a “neutral” rating and set a $6.00 price objective on shares of Apollo Investment in a research report on Wednesday, August 15th. BidaskClub cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Finally, Zacks Investment Research cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.08.
Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings data on Wednesday, August 8th. The asset manager reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. The firm had revenue of $63.60 million during the quarter, compared to analysts’ expectations of $62.38 million. Apollo Investment had a net margin of 27.90% and a return on equity of 9.20%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. As a group, equities analysts forecast that Apollo Investment Corp. will post 0.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Shareholders of record on Monday, September 24th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, September 21st. This represents a $0.60 dividend on an annualized basis and a yield of 12.02%. Apollo Investment’s dividend payout ratio (DPR) is presently 98.36%.
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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