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. It prefers to invest in warrants, makes equity co-investments, and may also invest in cash equivalents, U.S. government securities, high-quality debt investments that mature in one year or less, high-yield bonds, distressed debt, non-U.S. investments, or securities of public companies that are not thinly traded. It also focuses on other investments such as collateralized loan obligations and credit-linked notes. The fund typically invests in building materials, business services, cable television, chemicals, consumer products, direct marketing, distribution, energy and utilities, financial services, healthcare, manufacturing, media, publishing, retail and transportation. It primarily invests between $20 million and $250 million in its portfolio companies. The fund seeks to make investments with stated maturities of five to 10 years.
Industry, Sector and Symbol
Stock Exchange NASDAQ
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
SymbolNASDAQ:AINV
CUSIP03761U10
Phone212-515-3450
Debt
Debt-to-Equity Ratio0.79
Current Ratio0.81
Quick Ratio0.81
Price-To-Earnings
Trailing P/E Ratio9.02
Forward P/E Ratio9.02
P/E Growth1.81
Sales & Book Value
Annual Sales$259.29 million
Price / Sales4.56
Cash FlowN/A
Price / CashN/A
Book Value$6.55 per share
Price / Book0.84
Profitability
EPS (Most Recent Fiscal Year)$0.61
Net Income$87.02 million
Net Margins27.90%
Return on Equity9.20%
Return on Assets5.40%
Miscellaneous
EmployeesN/A
Outstanding Shares214,900,000
Market Cap$1.18 billion
Apollo Investment (NASDAQ:AINV) Frequently Asked Questions
What is Apollo Investment's stock symbol?
Apollo Investment trades on the NASDAQ under the ticker symbol "AINV."
How often does Apollo Investment pay dividends? What is the dividend yield for Apollo Investment?
Apollo Investment announced a quarterly dividend on Wednesday, August 8th. Investors of record on Monday, September 24th will be given a dividend of $0.15 per share on Tuesday, October 9th. This represents a $0.60 annualized dividend and a yield of 10.91%. The ex-dividend date of this dividend is Friday, September 21st. View Apollo Investment's Dividend History.
How were Apollo Investment's earnings last quarter?
Apollo Investment Corp. (NASDAQ:AINV) announced its quarterly earnings data on Wednesday, August, 8th. The asset manager reported $0.15 earnings per share for the quarter, hitting the Zacks' consensus estimate of $0.15. The asset manager had revenue of $63.60 million for the quarter, compared to the consensus estimate of $62.38 million. Apollo Investment had a return on equity of 9.20% and a net margin of 27.90%. The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. View Apollo Investment's Earnings History.
When is Apollo Investment's next earnings date?
What price target have analysts set for AINV?
9 Wall Street analysts have issued 1-year target prices for Apollo Investment's shares. Their forecasts range from $5.00 to $7.00. On average, they anticipate Apollo Investment's share price to reach $6.1944 in the next year. This suggests a possible upside of 12.6% from the stock's current price. View Analyst Price Targets for Apollo Investment.
What is the consensus analysts' recommendation for Apollo Investment?
9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Apollo Investment in the last year. There are currently 1 sell rating, 4 hold ratings and 4 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Apollo Investment.
What are Wall Street analysts saying about Apollo Investment stock?
Here are some recent quotes from research analysts about Apollo Investment stock:
- 1. National Securities analysts commented, " AINV posted NII/share of $0.15 for fiscal 1Q19, in-line with consensus but a penny shy of our estimate. We expect revenue to grow more robustly in fiscal 2Q19 as we suspect many of the $359 million of deployments during the quarter closed late in the quarter and thus the company likely did not realize a full quarter of investment income pertaining to additions during the quarter.
Total originations excluding Merx and revolver activity were $200 million. Of the origination volume 73% was in seven new portfolio companies while 27% was invested in nine existing companies, demonstrating that Apollo is finding new portfolio companies in a challenging environment and before its reduced asset coverage is set to take effect (April 2019).
While the reduced asset coverage will likely lead to increased NII/share, we note that shareholders will receive some but not all of the benefit from the reduced asset coverage. AINV is lowering its base fee to 100 bps on assets purchased with D/E greater than 1.00x. This will allow fees to scale down with increased use of leverage a decent amount but we would have preferred an outright based fee cut to 100 bps.
There were no new non-accruals during the quarter as they remained flat at $75.7 million at cost or 3.0% of the portfolio. However, American Tire was exited at $12.5 million realized loss after losing two major suppliers. Additionally, Merx closed the quarter at 21% of the portfolio at fair value and oil & gas investments comprised 8.2% of the portfolio. We think this heavy concentration will and cyclicality in the portfolio will keep valuation muted.
We are revising our fiscal 2019 NII/share estimate to $0.60 from $0.61 and our fiscal 2020 NII/share estimate to $0.64 from $0.66 and maintaining our NEUTRAL rating and $6 price target." (8/15/2018)
- 2. According to Zacks Investment Research, "Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company's investment portfolio will be principally in middle-market private companies. " (8/10/2018)
Are investors shorting Apollo Investment?
Apollo Investment saw a increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,931,417 shares, an increase of 114.5% from the August 15th total of 900,604 shares. Based on an average daily trading volume, of 933,280 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.9% of the shares of the company are sold short. View Apollo Investment's Current Options Chain.
Who are some of Apollo Investment's key competitors?
Some companies that are related to Apollo Investment include DNP Select Income Fund (DNP), Nuveen Municipal Value Fund (NUV), Adams Diversified Equity Fund (ADX), Gabelli Equity Trust (GAB), Tri-Continental (TY), Royce Value Trust (RVT), Tortoise Energy Infrastructure (TYG), PIMCO Corporate&Income Opportunity Fund (PTY), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), Boulder Growth & Income Fund (BIF), PIMCO High Income Fund (PHK), AllianceBernstein Global Hgh Incm Fd (AWF), General American Investors (GAM) and Tekla Healthcare Investors (HQH).
Who are Apollo Investment's key executives?
Apollo Investment's management team includes the folowing people:
- Mr. John J. Hannan, Chairman (Age 66)
- Mr. Howard T. Widra, CEO & Director (Age 46)
- Mr. Tanner Powell, Pres & Chief Investment Officer of Apollo Investment Management
- Mr. Gregory William Hunt, CFO & Treasurer (Age 61)
- Mr. Amit Joshi, VP, Chief Accounting Officer & Assistant Treasurer
Who are Apollo Investment's major shareholders?
Apollo Investment's stock is owned by a number of of institutional and retail investors. Top institutional investors include Fuller & Thaler Asset Management Inc. (2.85%), Wells Fargo & Company MN (1.99%), Nomura Holdings Inc. (0.69%), Van ECK Associates Corp (0.67%), Telemus Capital LLC (0.62%) and Bank of America Corp DE (0.48%). View Institutional Ownership Trends for Apollo Investment.
Which institutional investors are selling Apollo Investment stock?
AINV stock was sold by a variety of institutional investors in the last quarter, including Levin Capital Strategies L.P., Millennium Management LLC, Sumitomo Mitsui Asset Management Company LTD, BlackRock Inc., Telemus Capital LLC, Bank of America Corp DE, Fuller & Thaler Asset Management Inc. and WESPAC Advisors LLC. View Insider Buying and Selling for Apollo Investment.
Which institutional investors are buying Apollo Investment stock?
AINV stock was purchased by a variety of institutional investors in the last quarter, including Wells Fargo & Company MN, Resource America Inc., Cozad Asset Management Inc., Advisors Asset Management Inc., Advisors Asset Management Inc., Rational Advisors LLC, PVG Asset Management Corp and Centaurus Financial Inc.. View Insider Buying and Selling for Apollo Investment.
How do I buy shares of Apollo Investment?
Shares of AINV can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Apollo Investment's stock price today?
One share of AINV stock can currently be purchased for approximately $5.50.
How big of a company is Apollo Investment?
Apollo Investment has a market capitalization of $1.18 billion and generates $259.29 million in revenue each year. The asset manager earns $87.02 million in net income (profit) each year or $0.61 on an earnings per share basis.
What is Apollo Investment's official website?
How can I contact Apollo Investment?
Apollo Investment's mailing address is 9 West 57th Street 37th Floor, New York NY, 10019. The asset manager can be reached via phone at 212-515-3450 or via email at [email protected]m.
MarketBeat Community Rating for Apollo Investment (NASDAQ AINV)
MarketBeat's community ratings are surveys of what our community members think about Apollo Investment and other stocks. Vote "Outperform" if you believe AINV will outperform the S&P 500 over the long term. Vote "Underperform" if you believe AINV will underperform the S&P 500 over the long term. You may vote once every thirty days.
