The Sequoia Financial Advisors LLC Takes Position in Apollo Investment Corp. (AINV)

The Sequoia Financial Advisors LLC Takes Position in Apollo Investment Corp. (AINV)

Sequoia Financial Advisors LLC purchased a new position in shares of Apollo Investment Corp. (NASDAQ:AINV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 34,594 shares of the company’s stock, valued at approximately $192,000.

Several other institutional investors also recently made changes to their positions in AINV. Eqis Capital Management Inc. raised its position in shares of Apollo Investment Corp. by 14.1% in the second quarter. Eqis Capital Management Inc. now owns 22,332 shares of the company’s stock worth $124,000 after buying an additional 2,753 shares during the period. Advisory Services Network LLC raised its position in shares of Apollo Investment Corp. by 29.7% in the second quarter. Advisory Services Network LLC now owns 35,634 shares of the company’s stock worth $197,000 after buying an additional 8,150 shares during the period. Sigma Planning Corp raised its position in shares of Apollo Investment Corp. by 3.0% in the second quarter. Sigma Planning Corp now owns 55,900 shares of the company’s stock worth $310,000 after buying an additional 1,630 shares during the period. Duncker Streett & Co. Inc. raised its position in shares of Apollo Investment Corp. by 2.6% in the second quarter. Duncker Streett & Co. Inc. now owns 63,079 shares of the company’s stock worth $349,000 after buying an additional 1,617 shares during the period. Finally, Green Square Capital LLC raised its position in shares of Apollo Investment Corp. by 112.8% in the second quarter. Green Square Capital LLC now owns 63,351 shares of the company’s stock worth $360,000 after buying an additional 33,575 shares during the period. Institutional investors own 42.92% of the company’s stock.

Apollo Investment Corp. (NASDAQ:AINV) traded down 1.18% on Friday, hitting $5.88. 896,406 shares of the stock traded hands. The stock has a 50-day moving average of $5.98 and a 200-day moving average of $5.72. Apollo Investment Corp. has a 12-month low of $4.26 and a 12-month high of $6.39.

Apollo Investment Corp. (NASDAQ:AINV) last posted its earnings results on Friday, August 5th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ 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 quarter in the prior year, the company earned $0.22 earnings per share. Equities research analysts expect 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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.20%. The ex-dividend date was Monday, September 19th. Apollo Investment Corp.’s dividend payout ratio is currently -146.34%.

A number of brokerages have recently commented on AINV. Jefferies Group reissued a “buy” rating on shares of Apollo Investment Corp. in a research note on Friday, August 12th. Bank of America Corp. downgraded shares of Apollo Investment Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, July 8th. Finally, National Securities reissued a “neutral” rating and issued a $6.00 target price on shares of Apollo Investment Corp. in a research note on Monday, August 8th. Three analysts have rated the stock with a sell rating, eight have issued 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 price target of $6.52.

In other news, CEO James C. Zelter acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average cost of $5.58 per share, with a total value of $111,600.00. Following the acquisition, the chief executive officer now owns 318,166 shares in the company, valued at $1,775,366.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank C. Puleo acquired 4,180 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average cost of $6.01 per share, with a total value of $25,121.80. Following the completion of the acquisition, the director now owns 29,080 shares in the company, valued at approximately $174,770.80. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

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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