Ramsey Quantitative Systems increased its holdings in shares of Apollo Investment Corp. (NASDAQ:AINV) by 94.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,463 shares of the asset manager’s stock after acquiring an additional 12,339 shares during the period. Ramsey Quantitative Systems’ holdings in Apollo Investment were worth $139,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Verition Fund Management LLC acquired a new position in Apollo Investment during the second quarter valued at approximately $106,000. Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Apollo Investment in the second quarter valued at approximately $111,000. Koch Industries Inc. boosted its holdings in shares of Apollo Investment by 72.2% in the first quarter. Koch Industries Inc. now owns 34,388 shares of the asset manager’s stock valued at $180,000 after buying an additional 14,422 shares during the period. United Capital Financial Advisers LLC boosted its holdings in shares of Apollo Investment by 46.2% in the first quarter. United Capital Financial Advisers LLC now owns 39,548 shares of the asset manager’s stock valued at $206,000 after buying an additional 12,500 shares during the period. Finally, Cumberland Partners Ltd acquired a new position in shares of Apollo Investment in the second quarter valued at approximately $296,000. 46.57% of the stock is owned by hedge funds and other institutional investors.
NASDAQ AINV traded up $0.03 on Friday, hitting $5.39. 547,397 shares of the stock were exchanged, compared to its average volume of 936,655. The firm has a market capitalization of $1.16 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 1.79 and a beta of 0.84. Apollo Investment Corp. has a 52 week low of $4.95 and a 52 week high of $6.13. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.13%. The ex-dividend date is Wednesday, December 19th. Apollo Investment’s payout ratio is presently 98.36%.
Several research analysts recently commented on AINV shares. National Securities restated a “neutral” rating and set a $6.00 target price on shares of Apollo Investment in a report on Thursday, November 1st. BidaskClub upgraded shares of Apollo Investment from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Zacks Investment Research cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Wells Fargo & Co reduced their target price on shares of Apollo Investment from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, October 4th. Finally, Citigroup started coverage on shares of Apollo Investment in a report on Thursday, August 23rd. They set a “sell” rating and a $5.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $5.92.
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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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