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. It may also invest in the securities of public companies and in structured products and other investments, such as collateralized loan obligations (CLOs) and credit-linked notes (CLNs). Its portfolio also includes equity interests, such as common stock, preferred stock, warrants or options. It invests in investments in the United States secured and unsecured loans, other debt securities and equity, and may also invests a portion of the portfolio in other investment opportunities, including foreign securities and structured products. Apollo Investment Management, L.P. is the investment advisor of the Company.
Industry, Sector and Symbol
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
SymbolNASDAQ:AINV
CUSIP03761U10
Phone212-515-3450
Debt
Debt-to-Equity Ratio0.56
Current Ratio0.42
Quick Ratio0.42
Price-To-Earnings
Trailing P/E Ratio9.11
Forward P/E Ratio8.97
P/E Growth1.79
Sales & Book Value
Annual Sales$259.29 million
Price / Sales4.64
Cash FlowN/A
Price / CashN/A
Book Value$6.55 per share
Price / Book0.85
Profitability
EPS (Most Recent Fiscal Year)$0.61
Net Income$87.02 million
Net Margins33.55%
Return on Equity9.18%
Return on Assets5.52%
Miscellaneous
EmployeesN/A
Outstanding Shares216,310,000
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 Friday, May 18th. Shareholders of record on Thursday, June 21st will be paid a dividend of $0.15 per share on Friday, July 6th. This represents a $0.60 dividend on an annualized basis and a yield of 10.79%. The ex-dividend date is Wednesday, June 20th. View Apollo Investment's Dividend History.
How were Apollo Investment's earnings last quarter?
Apollo Investment Corp. (NASDAQ:AINV) posted its quarterly earnings data on Friday, May, 18th. The asset manager reported $0.15 EPS for the quarter, missing the Zacks' consensus estimate of $0.16 by $0.01. The asset manager had revenue of $61.50 million for the quarter, compared to the consensus estimate of $64.17 million. Apollo Investment had a return on equity of 9.18% and a net margin of 33.55%. Apollo Investment's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 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?
10 Wall Street analysts have issued 12 month price targets for Apollo Investment's stock. Their predictions range from $6.00 to $7.00. On average, they anticipate Apollo Investment's share price to reach $6.3750 in the next year. 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. " (5/21/2018)
- 2. National Securities analysts commented, "• For fiscal 4Q18, AINV earned NII/share of $0.15, a penny shy of our estimate but covering the quarterly dividend. Investment income was down Q/Q largely as a result of a smaller portfolio, the addition of Sprint Industrial to non-accrual, and lower prepayment fees.
• In April, Apollo’s Board approved an increase in regulatory leverage from 1.00x D/E to 2.00x D/E. The company will also be permanently reducing the base fee to 150 bps from 200 bps although the advisor was waiving 50 bps of the fee previously and thus we don’t expect any impact from this aside from a good gesture. However, when D/E exceeds 1.00x Apollo will lower the base fee to 100 bps. Beginning 4/1/18, a rolling three-year lookback feature is beginning for the incentive fee.
• The company is certainly doing the right thing with fees, especially as it pertains to increased leverage. On the earnings call, management stated that they will target D/E of between 1.25x – 1.40x. In terms of what investments will likely be on-balance sheet with increased leverage available, the company guided towards L+500 – L+700 loans with leverage of 4.0-5.0x.
• The increasing utilization of co-investment, particularly with MidCap, bodes well for the ability of AINV to have adequate sourcing of more lower yielding, senior secured loans.
• James Zelter, CEO, is stepping down from his position. Mr. Zelter will remain a director of the company. Howard Widra is taking the helm as CEO. Mr. Widra was a cofounder of MidCap and has been President of AINV since June 2016.
• AINV’s non-accruals at amortized cost increased to $75.7 million of 3.3% of the portfolio from $57.9 million or 2.4% of the portfolio Q/Q. Apollo had one new loan placed on non-accrual status during the quarter with a cost of $18.1 million.
• We are revising our fiscal 2019 NII/share estimate to $0.61 from $0.66 and are rolling out our fiscal 2020 NII/share estimate of $0.66. We think Apollo’s D/E will remain under 0.90x through fiscal 2020 and we think that the benefits of the scaled base fee reduction with increased leverage are considerably further down the road and that the non-sponsor portion of the portfolio remaining (19%) will be reflected in a modest NAV/share discount. " (5/21/2018)
Are investors shorting Apollo Investment?
Apollo Investment saw a increase in short interest in the month of May. As of May 31st, there was short interest totalling 919,907 shares, an increase of 35.0% from the May 15th total of 681,248 shares. Based on an average daily volume of 942,714 shares, the short-interest ratio is presently 1.0 days. Currently, 0.4% of the shares of the company are short sold. 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 Inc. Common Stock (DNP), Nuveen Municipal Value Fund (NUV), Adams Diversified Equity Fund (ADX), Tri-Continental (TY), Gabelli Equity Trust (GAB), PIMCO Corporate&Income Opportunity Fund (PTY), Royce Value Trust (RVT), Tortoise Energy Infrastructure (TYG), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), Boulder Growth & Income Fund Inc common stock (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:
- John J. Hannan, Chairman of the Board (Age 64)
- Howard T. Widra, President (Age 48)
- James C. Zelter, Chief Executive Officer, Director (Age 55)
- Gregory William Hunt, Chief Financial Officer, Treasurer (Age 60)
- Amit Joshi, Chief Accounting Officer (Age 35)
- Cindy Z. Michel, Vice President, Chief Compliance Officer (Age 43)
- Joseph D. Glatt Esq., Chief Legal Officer, Secretary and Vice President (Age 44)
- Elliot Stein Jr., Lead Independent Director (Age 68)
- Bradley J. Wechsler, Director (Age 65)
- Jeanette Loeb, Independent Director (Age 64)
Has Apollo Investment been receiving favorable news coverage?
Media coverage about AINV stock has been trending very positive recently, Accern Sentiment reports. The research firm identifies negative and positive media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Apollo Investment earned a news sentiment score of 0.70 on Accern's scale. They also assigned news coverage about the asset manager an impact score of 43.66 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company's share price in the near term.
Who are Apollo Investment's major shareholders?
Apollo Investment's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Thornburg Investment Management Inc. (11.27%), Muzinich & Co. Inc. (2.91%), Wells Fargo & Company MN (1.84%), Van ECK Associates Corp (0.66%), UBS Group AG (0.64%) and BlackRock Inc. (0.55%). Company insiders that own Apollo Investment stock include Elliot Stein Jr, Frank C Puleo, Hilary E Ackermann, Howard Widra and James C Zelter. 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 Millennium Management LLC, UBS Group AG, Muzinich & Co. Inc., Thornburg Investment Management Inc., GSA Capital Partners LLP, PVG Asset Management Corp, BlackRock Inc. and Van ECK Associates Corp. 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 Citadel Advisors LLC, Wells Fargo & Company MN, WESPAC Advisors LLC, Salzhauer Michael, Legal & General Group Plc, Engineers Gate Manager LP, Ancora Advisors LLC and Mckinley Capital Management LLC Delaware. Company insiders that have bought Apollo Investment stock in the last two years include Elliot Stein Jr, Frank C Puleo, Hilary E Ackermann, Howard Widra and James C Zelter. 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 $5.56.
How big of a company is Apollo Investment?
Apollo Investment has a market capitalization of $1.20 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.
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 (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.
