Wedbush Securities Inc. reduced its stake in Apollo Investment Co. (NASDAQ:AINV – Get Rating ) by 8.3% during the first quarter, HoldingsChannel.com reports. The firm owned 15,948 shares of the asset manager’s stock after selling 1,450 shares during the period. Wedbush Securities Inc.’s holdings in Apollo Investment were worth $211,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. AE Wealth Management LLC lifted its position in Apollo Investment by 6.6% during the first quarter. AE Wealth Management LLC now owns 41,676 shares of the asset manager’s stock valued at $551,000 after buying an additional 2,589 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its holdings in Apollo Investment by 24.6% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 22,483 shares of the asset manager’s stock valued at $288,000 after acquiring an additional 4,432 shares during the last quarter. LPL Financial LLC boosted its position in Apollo Investment by 3.6% in the 4th quarter. LPL Financial LLC now owns 436,326 shares of the asset manager’s stock valued at $5,581,000 after purchasing an additional 14,959 shares during the period. Rockefeller Capital Management LP boosted its holdings in Apollo Investment by 2.1% in the 4th quarter. Rockefeller Capital Management LP now owns 62,612 shares of the asset manager’s stock valued at $800,000 after buying an additional 1,270 shares in the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Apollo Investment by 6.6% during the 4th quarter. WINTON GROUP Ltd now owns 123,343 shares of the asset manager’s stock valued at $1,578,000 after buying an additional 7,622 shares during the period. Hedge funds and other institutional investors own 30.83% of the company’s shares.
Shares of AINV stock opened at $11.02 on Thursday. The firm’s 50-day moving average is $11.74 and its 200-day moving average is $12.70. The firm has a market cap of $699.98 million, a price-to-earnings ratio of 8.68 and a beta of 1.69. The company has a current ratio of 1.60, a quick ratio of 1.60, and a debt-to-equity ratio of 1.54. Apollo Investment Co. has a 1-year low of $10.01 and a 1-year high of $14.03.
Apollo Investment (NASDAQ:AINV – Get Rating ) last announced its earnings results on Thursday, May 19th. The asset manager reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $54.74 million for the quarter, compared to analyst estimates of $53.59 million. Apollo Investment had a net margin of 38.64% and a return on equity of 9.34%. In the same quarter last year, the firm reported $0.39 EPS. On average, analysts predict that Apollo Investment Co. will post 1.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 7th. Investors of record on Thursday, June 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.44 annual dividend and a yield of 13.07%. This is a positive change from Apollo Investment’s previous quarterly dividend of $0.31. Apollo Investment’s payout ratio is currently 97.64%.
Separately, StockNews.com started coverage on shares of Apollo Investment in a research note on Thursday, March 31st. They assign a “hold” rating to the stock.
About Apollo Investment (Get Rating)
Apollo Investment Corporation is a business development and closed-end, externally managed, non-diversified investment company. It has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act), specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.
Want to see what other hedge funds hold AINV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Investment Co. (NASDAQ:AINV – Get Rating).
Get Apollo Investment Daily news and ratings – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apollo Investment and related companies with MarketBeat.com’s FREE daily email newsletter.