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 Ratio0.56
Current Ratio0.42
Quick Ratio0.42
Price-To-Earnings
Trailing P/E Ratio9.47
Forward P/E Ratio9.32
P/E Growth1.83
Sales & Book Value
Annual Sales$259.29 million
Price / Sales4.80
Cash FlowN/A
Price / CashN/A
Book Value$6.55 per share
Price / Book0.88
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 Shares215,370,000
Market Cap$1,223.29
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 Friday, May 18th. Stockholders 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 annualized dividend and a dividend yield of 10.38%. 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) released its earnings results on Friday, May, 18th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.16 by $0.01. The asset manager earned $61.50 million during the quarter, compared to analyst estimates of $64.17 million. Apollo Investment had a net margin of 33.55% and a return on equity of 9.18%. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. View Apollo Investment's Earnings History.
When is Apollo Investment's next earnings date?
What price target have analysts set for AINV?
10 brokers have issued 12 month target prices for Apollo Investment's stock. Their forecasts range from $6.00 to $7.00. On average, they anticipate Apollo Investment's share price to reach $6.3750 in the next twelve months. This suggests a possible upside of 10.3% from the stock's current price. View Analyst Ratings for Apollo Investment.
What is the consensus analysts' recommendation for Apollo Investment?
10 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 5 buy ratings for the stock, resulting in a consensus recommendation of "Hold."
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)
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), Tortoise Energy Infrastructure (TYG), PIMCO Corporate&Income Opportunity Fund (PTY), Royce Value Trust (RVT), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), PIMCO High Income Fund (PHK), Boulder Growth & Income Fund Inc common stock (BIF), 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
Has Apollo Investment been receiving favorable news coverage?
Press coverage about AINV stock has been trending somewhat positive on Tuesday, according to Accern Sentiment. Accern scores the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Apollo Investment earned a coverage optimism score of 0.11 on Accern's scale. They also assigned news stories about the asset manager an impact score of 44.82 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock's share price in the next few days.
Who are Apollo Investment's major shareholders?
Apollo Investment's stock is owned by a variety of of retail and institutional investors. Top institutional investors include Mckinley Capital Management LLC Delaware (0.25%), DnB Asset Management AS (0.10%), Regent Investment Management LLC (0.02%) and Hudson Valley Investment Advisors Inc. ADV (0.01%). 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?
Which institutional investors are buying Apollo Investment stock?
AINV stock was bought by a variety of institutional investors in the last quarter, including Mckinley Capital Management LLC Delaware, Hudson Valley Investment Advisors Inc. ADV and DnB Asset Management AS. 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 $5.78.
How big of a company is Apollo Investment?
Apollo Investment has a market capitalization of $1.22 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 (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.
