Insider Buying: Rudolph R. Reinfrank Purchases 5,000 Shares of Apollo Investment Corp. Stock (AINV)
Apollo Investment Corp. (NASDAQ:AINV) Director Rudolph R. Reinfrank bought 5,000 shares of Apollo Investment Corp. stock on the open market in a transaction dated Monday, June 2nd. The shares were purchased at an average cost of $8.34 per share, with a total value of $41,700.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $125,100. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Shares of Apollo Investment Corp. (NASDAQ:AINV) traded down 0.36% during mid-day trading on Monday, hitting $8.35. The stock had a trading volume of 2,487,617 shares. Apollo Investment Corp. has a one year low of $7.28 and a one year high of $9.21. The stock’s 50-day moving average is $8.0 and its 200-day moving average is $8.47. Apollo Investment Corp. also saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 10,184,641 shares, a growth of 23.6% from the April 30th total of 8,237,335 shares. Based on an average daily trading volume, of 2,073,477 shares, the short-interest ratio is currently 4.9 days. Approximately 4.3% of the company’s shares are sold short.
Apollo Investment Corp. (NASDAQ:AINV) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.01. During the same quarter last year, the company posted $0.21 earnings per share. Analysts expect that Apollo Investment Corp. will post $0.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, July 7th. Shareholders of record on Friday, June 20th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 9.58%. The ex-dividend date of this dividend is Wednesday, June 18th.
A number of research firms have recently commented on AINV. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Apollo Investment Corp. from $8.50 to $9.00 in a research note on Thursday, May 22nd. Separately, analysts at SunTrust reiterated a “neutral” rating on shares of Apollo Investment Corp. in a research note on Wednesday, May 21st. They now have a $8.50 price target on the stock. Finally, analysts at JMP Securities upgraded shares of Apollo Investment Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $9.00 price target on the stock, up previously from $8.06. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $8.87.
Apollo Investment Corporation (NASDAQ:AINV) is a closed-end, non-diversified management investment company that has elected to be treated as a business development company (BDC).
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