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
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Phone212-515-3450
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$259.29 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date5/17/2019 (Estimated)
OptionableOptionable
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 declared a quarterly dividend on Wednesday, February 6th. Stockholders of record on Thursday, March 21st will be paid a dividend of $0.45 per share on Friday, April 5th. This represents a $1.80 annualized dividend and a dividend yield of 11.90%. The ex-dividend date of this dividend is Wednesday, March 20th. This is an increase from Apollo Investment's previous quarterly dividend of $0.15. View Apollo Investment's Dividend History.
When did Apollo Investment's stock split? How did Apollo Investment's stock split work?
Apollo Investment's stock reverse split on Friday, November 30th 2018. The 1-3 reverse split was announced on Tuesday, October 30th 2018. The number of shares owned by shareholders was adjusted after the market closes on Thursday, November 29th 2018. An investor that had 100 shares of Apollo Investment stock prior to the reverse split would have 33 shares after the split.
How will Apollo Investment's stock buyback program work?
Apollo Investment announced that its board has initiated a share buyback plan on Wednesday, February 6th 2019, which authorizes the company to buyback $50,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its stock is undervalued.
How were Apollo Investment's earnings last quarter?
Apollo Investment Corp. (NASDAQ:AINV) issued its quarterly earnings results on Wednesday, February, 6th. The asset manager reported $0.45 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.46 by $0.01. The asset manager earned $64 million during the quarter, compared to analysts' expectations of $64.31 million. Apollo Investment had a net margin of 23.80% and a return on equity of 9.25%. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. View Apollo Investment's Earnings History.
When is Apollo Investment's next earnings date?
What price target have analysts set for AINV?
5 brokers have issued 12-month target prices for Apollo Investment's stock. Their predictions range from $14.00 to $21.00. On average, they anticipate Apollo Investment's share price to reach $17.40 in the next twelve months. This suggests a possible upside of 15.0% from the stock's current price. View Analyst Price Targets for Apollo Investment.
What is the consensus analysts' recommendation for Apollo Investment?
5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Apollo Investment in the last year. There are currently 3 hold ratings and 2 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. 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. " (3/21/2019)
- 2. National Securities analysts commented, " Please note all per share figures incorporate the 1 for 3 reverse split that occurred in November 2018. AINV posted NII/share of $0.45 for F3Q19, a penny ahead of our estimate and matching the quarterly dividend.
Apollo had a strong quarter of originations with $305.3mm versus sales of $16.3mm and repayments of $274.4mm, resulting in net portfolio growth of $14.6mm. The sales included partial paydowns of oil & gas investments as well as structured credit.
NAV/share declined by 1.9% Q/Q to $19.03 largely as a result of spread widening and oil and gas investments. The price of a barrel of WTI declined from around $70 to $45 during the quarter for a decline of 36%. Despite this, aggregate oil and gas portfolio companies were marked from a FV/Cost of 88% to 79%. We think this is quite generous.
Additionally, AINV had a new non-accrual investment during the quarter, Crowne Automotive. Crowne had a cost of $16.1mm and was marked at 60% of cost. This brings total non-accruals to $79.8mm or 3.4% of the book at amortized cost compared with $75.7mm or 3.2% of the portfolio Q/Q (Elements Behavioral Health was exited).
Gary Rothchild of Merx Aviation become an Apollo employee. Merx has sourced additional servicing fee income investments for Apollo and we expect this to continue and assist in diversifying aviation assets for AINV. As a reminder, Merx finished F3Q19 with a cost of $417.2mm or 18% of the portfolio. This is a significant concentration in a single entity, no matter how successful it is although growth in Midcap assets should reduce this over time.
We are revising our fiscal 2019 NII/share estimate to $1.79 from $1.77 and are our fiscal 2020 NII/share estimate to $1.84 from $1.92. We are maintaining our NEUTRAL rating and $18 price target." (2/8/2019)
Has Apollo Investment been receiving favorable news coverage?
News coverage about AINV stock has trended neutral this week, according to InfoTrie. The research firm identifies negative and positive media coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of companies on a scale of negative five to five, with scores closest to five being the most favorable. Apollo Investment earned a media sentiment score of 0.2 on InfoTrie's scale. They also assigned media coverage about the asset manager a news buzz of 3.0 out of 10, meaning that recent media coverage is unlikely to have an effect on the company's share price in the near term.
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), Gabelli Equity Trust (GAB), Adams Diversified Equity Fund (ADX), PIMCO Corporate&Income Opportunity Fund (PTY), Tri-Continental (TY), Royce Value Trust (RVT), Tortoise Energy Infrastructure (TYG), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), PIMCO High Income Fund (PHK), Boulder Growth & Income Fund (BIF), AllianceBernstein Global Hgh Incm Fd (AWF), Solar Capital (SLRC) and Blackrock Muniyield Insured Fund (MYI).
What other stocks do shareholders of Apollo Investment own?
Who are Apollo Investment's key executives?
Apollo Investment's management team includes the folowing people:
- Mr. John J. Hannan, Chairman (Age 67)
- Mr. Howard T. Widra, CEO & Director (Age 47)
- Mr. Tanner Powell, Pres & Chief Investment Officer of Apollo Investment Management
- Mr. Gregory William Hunt, CFO & Treasurer (Age 62)
- Mr. Amit Joshi, VP, Chief Accounting Officer & Assistant Treasurer
Who are Apollo Investment's major shareholders?
Apollo Investment's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include Thornburg Investment Management Inc. (11.43%), Apollo Management Holdings L.P. (4.27%), Bank of Montreal Can (1.55%), Nomura Holdings Inc. (0.77%), Van ECK Associates Corp (0.73%) and Telemus Capital LLC (0.63%). View Institutional Ownership Trends for Apollo Investment.
Which major investors are selling Apollo Investment stock?
AINV stock was sold by a variety of institutional investors in the last quarter, including Thornburg Investment Management Inc., Apollo Management Holdings L.P., Bank of Montreal Can, Van ECK Associates Corp, Nomura Holdings Inc., Telemus Capital LLC, Bank of America Corp DE and BlackRock Inc.. View Insider Buying and Selling for Apollo Investment.
Which major investors are buying Apollo Investment stock?
AINV stock was purchased by a variety of institutional investors in the last quarter, including Callodine Capital Management LP, PVG Asset Management Corp, Strategic Wealth Advisors Group LLC, Wambolt & Associates LLC, Hound Partners LLC, Summit Global Investments, Millennium Management LLC and Dfpg Investments 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 $15.13.
How big of a company is Apollo Investment?
Apollo Investment has a market capitalization of $1.05 billion and generates $259.29 million in revenue each year. The asset manager earns $87.02 million in net income (profit) each year or $1.83 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]
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.
