Van ECK Associates Corp Has $7.75 Million Holding in Apollo Investment Corp. (AINV)

Van ECK Associates Corp Has $7.75 Million Holding in Apollo Investment Corp. (AINV)

Van ECK Associates Corp increased its stake in Apollo Investment Corp. (NASDAQ:AINV) by 18.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,180,921 shares of the asset manager’s stock after buying an additional 185,947 shares during the period. Van ECK Associates Corp’s holdings in Apollo Investment Corp. were worth $7,747,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AINV. Muzinich & Co. Inc. raised its position in shares of Apollo Investment Corp. by 40.9% in the first quarter. Muzinich & Co. Inc. now owns 8,846,122 shares of the asset manager’s stock valued at $58,031,000 after buying an additional 2,569,874 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Apollo Investment Corp. by 5.6% in the first quarter. Wells Fargo & Company MN now owns 2,714,931 shares of the asset manager’s stock valued at $17,809,000 after buying an additional 143,668 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Apollo Investment Corp. by 994.5% in the fourth quarter. Two Sigma Investments LP now owns 1,782,805 shares of the asset manager’s stock valued at $10,447,000 after buying an additional 1,619,916 shares in the last quarter. Camelot Portfolios LLC raised its position in shares of Apollo Investment Corp. by 6.7% in the first quarter. Camelot Portfolios LLC now owns 1,039,652 shares of the asset manager’s stock valued at $6,820,000 after buying an additional 65,059 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Apollo Investment Corp. by 122.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 816,242 shares of the asset manager’s stock valued at $5,354,000 after buying an additional 448,680 shares in the last quarter. 45.20% of the stock is owned by institutional investors.

Apollo Investment Corp. (AINV) remained flat at $6.41 on Friday. 490,328 shares of the stock traded hands. Apollo Investment Corp. has a one year low of $5.25 and a one year high of $6.82. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 77.23 and a beta of 0.73. The firm’s 50-day moving average price is $6.53 and its 200-day moving average price is $6.25.

Apollo Investment Corp. (NASDAQ:AINV) last announced its quarterly earnings results on Thursday, May 18th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The firm had revenue of $66.30 million for the quarter, compared to analyst estimates of $68.89 million. Apollo Investment Corp. had a negative net margin of 4.38% and a positive return on equity of 10.03%. The business’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. Analysts forecast that Apollo Investment Corp. will post $0.64 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Wednesday, June 21st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 9.36%. The ex-dividend date of this dividend is Monday, June 19th. Apollo Investment Corp.’s dividend payout ratio (DPR) is presently -1,000.00%.

Several research analysts have weighed in on AINV shares. BMO Capital Markets reissued a “hold” rating and set a $6.00 price objective on shares of Apollo Investment Corp. in a report on Tuesday, April 11th. National Securities reissued a “neutral” rating and set a $6.00 price objective on shares of Apollo Investment Corp. in a report on Monday, February 6th. Zacks Investment Research lowered shares of Apollo Investment Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Keefe, Bruyette & Woods set a $7.00 price objective on shares of Apollo Investment Corp. and gave the stock a “hold” rating in a report on Wednesday. Finally, Jefferies Group LLC reissued a “buy” rating and set a $7.00 price objective on shares of Apollo Investment Corp. in a report on Friday, April 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.40.

Apollo Investment Corp. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AINV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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