Apollo Investment Corp. (NASDAQ:AINV) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 2,434,560 shares, a decrease of 34.7% from the September 15th total of 3,725,544 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average trading volume of 1,341,099 shares, the days-to-cover ratio is presently 1.8 days.
Apollo Investment Corp. (NASDAQ:AINV) opened at 5.88 on Friday. The stock has a 50 day moving average price of $5.97 and a 200-day moving average price of $5.72. Apollo Investment Corp. has a 1-year low of $4.26 and a 1-year high of $6.39.
Apollo Investment Corp. (NASDAQ:AINV) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.02. Apollo Investment Corp. had a positive return on equity of 10.57% and a negative net margin of 26.23%. During the same period in the prior year, the firm posted $0.22 earnings per share. Equities analysts forecast that Apollo Investment Corp. will post $0.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 19th. This represents a $0.60 annualized dividend and a yield of 10.20%. Apollo Investment Corp.’s dividend payout ratio (DPR) is currently -146.34%.
In related news, CEO James C. Zelter bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average cost of $5.58 per share, for a total transaction of $111,600.00. Following the acquisition, the chief executive officer now directly owns 318,166 shares of the company’s stock, valued at approximately $1,775,366.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank C. Puleo bought 4,180 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average price of $6.01 per share, with a total value of $25,121.80. Following the completion of the acquisition, the director now directly owns 29,080 shares in the company, valued at $174,770.80. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Financial Inc. raised its stake in Apollo Investment Corp. by 0.3% in the second quarter. B. Riley Financial Inc. now owns 52,930 shares of the company’s stock worth $293,000 after buying an additional 159 shares in the last quarter. Advisory Services Network LLC raised its stake in Apollo Investment Corp. by 1.0% in the third quarter. Advisory Services Network LLC now owns 35,993 shares of the company’s stock worth $209,000 after buying an additional 359 shares in the last quarter. Sanders Morris Harris Inc. raised its stake in Apollo Investment Corp. by 0.3% in the second quarter. Sanders Morris Harris Inc. now owns 127,624 shares of the company’s stock worth $707,000 after buying an additional 364 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in Apollo Investment Corp. by 3.5% in the second quarter. TCI Wealth Advisors Inc. now owns 22,496 shares of the company’s stock worth $125,000 after buying an additional 754 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its stake in Apollo Investment Corp. by 0.4% in the second quarter. Chicago Equity Partners LLC now owns 207,460 shares of the company’s stock worth $1,149,000 after buying an additional 841 shares in the last quarter. 42.92% of the stock is currently owned by institutional investors.
AINV has been the subject of several analyst reports. Bank of America Corp. cut Apollo Investment Corp. from a “neutral” rating to an “underperform” rating in a report on Friday, July 8th. Jefferies Group restated a “buy” rating on shares of Apollo Investment Corp. in a report on Friday, August 12th. Finally, National Securities reiterated a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment Corp. in a report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Apollo Investment Corp. has a consensus rating of “Hold” and an average target price of $6.52.
About Apollo Investment Corp.
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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