Eqis Capital Management Inc. Has $118,000 Position in Apollo Investment Corporation (NASDAQ:AINV)

Eqis Capital Management Inc. lowered its stake in shares of Apollo Investment Corporation (NASDAQ:AINV) by 33.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,400 shares of the asset manager’s stock after selling 9,282 shares during the period. Eqis Capital Management Inc.’s holdings in Apollo Investment Corporation were worth $118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Muzinich & Co. Inc. boosted its position in shares of Apollo Investment Corporation 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 during the period. Morgan Stanley boosted its position in shares of Apollo Investment Corporation by 1.6% in the first quarter. Morgan Stanley now owns 3,525,248 shares of the asset manager’s stock valued at $23,125,000 after buying an additional 54,340 shares during the period. Wells Fargo & Company MN boosted its position in shares of Apollo Investment Corporation 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 during the period. UBS Group AG boosted its position in shares of Apollo Investment Corporation by 54.7% in the first quarter. UBS Group AG now owns 2,461,815 shares of the asset manager’s stock valued at $16,150,000 after buying an additional 870,491 shares during the period. Finally, Ares Management LLC boosted its position in shares of Apollo Investment Corporation by 2.7% in the first quarter. Ares Management LLC now owns 2,432,945 shares of the asset manager’s stock valued at $15,960,000 after buying an additional 65,000 shares during the period. 46.29% of the stock is owned by hedge funds and other institutional investors.

Apollo Investment Corporation (NASDAQ AINV) traded up 0.32% during mid-day trading on Friday, reaching $6.29. The company’s stock had a trading volume of 1,035,249 shares. The firm has a 50 day moving average price of $6.37 and a 200 day moving average price of $6.37. Apollo Investment Corporation has a 52-week low of $5.65 and a 52-week high of $6.82.

Apollo Investment Corporation (NASDAQ:AINV) last posted its quarterly earnings data on Friday, August 4th. The asset manager reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The business had revenue of $66.70 million for the quarter, compared to the consensus estimate of $65.19 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. Apollo Investment Corporation’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, analysts anticipate that Apollo Investment Corporation will post $0.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 21st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $0.60 annualized dividend and a yield of 9.54%. Apollo Investment Corporation’s payout ratio is 150.00%.

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AINV has been the subject of several recent research reports. Bank of America Corporation reissued an “underperform” rating and set a $6.00 price target (up from $5.50) on shares of Apollo Investment Corporation in a research report on Wednesday. BidaskClub lowered Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BMO Capital Markets restated a “hold” rating and issued a $6.00 price objective on shares of Apollo Investment Corporation in a research note on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $7.00 price objective on Apollo Investment Corporation and gave the company a “hold” rating in a research note on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Apollo Investment Corporation currently has an average rating of “Hold” and an average target price of $6.33.

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.

Institutional Ownership by Quarter for Apollo Investment Corporation (NASDAQ:AINV)

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