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
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 announced a quarterly dividend on Thursday, November 1st. Shareholders of record on Thursday, December 20th will be given a dividend of $0.15 per share on Friday, January 4th. This represents a $0.60 annualized dividend and a yield of 4.13%. The ex-dividend date is Wednesday, December 19th. 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 before market open 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 closing bell 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 were Apollo Investment's earnings last quarter?
Apollo Investment Corp. (NASDAQ:AINV) posted its earnings results on Tuesday, October, 30th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters' consensus estimate of $0.45. The asset manager had revenue of $66.03 million for the quarter, compared to analysts' expectations of $67.04 million. Apollo Investment had a return on equity of 9.22% and a net margin of 26.47%. View Apollo Investment's Earnings History.
When is Apollo Investment's next earnings date?
How can I listen to Apollo Investment's earnings call?
Apollo Investment will be holding an earnings conference call on Wednesday, February 6th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 8888028579.
What price target have analysts set for AINV?
6 analysts have issued twelve-month price targets for Apollo Investment's stock. Their forecasts range from $15.00 to $21.00. On average, they anticipate Apollo Investment's share price to reach $17.9167 in the next twelve months. This suggests a possible upside of 23.3% from the stock's current price. View Analyst Price Targets for Apollo Investment.
What is the consensus analysts' recommendation for Apollo Investment?
6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Apollo Investment in the last year. There are currently 1 sell rating, 2 hold ratings and 3 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, " For fiscal 2Q19, Apollo earned $0.15/share of NII, matching our estimate as well as the quarterly dividend. NAV/share was flat on the quarter with realized losses of $8.1 million partially offset by $3.9 million of realized gains.
The portfolio at fair value declined by $170.7 million Q/Q, bringing D/E down to 0.70x from 0.80x. Notably, Apollo continues to recycle the portfolio away from non-core assets, which includes both oil & gas as well as shipping.
At 9/30/18, oil & gas investments comprised 7.7% of the portfolio at cost and transportation comprised 7.0% of the portfolio at cost. In total, non-core assets comprised 22% of the portfolio at 9/30/18, which is still a very significant number.
Furthermore, Merx Aviation comprised 20% of the portfolio at fair value. Apollo has certainly made strides in de-risking the book with 62% of investments since 7/1/16 being co-investments across the platform and an average borrower exposure of $15.7 million.
However, given the significant concentration in cyclical industries that remains and the material concentration in Merx, we think that there is still a relatively high degree of risk in the portfolio.
In our opinion, the market will likely discount the stock based upon this risk and the potential for the economy or any of these sectors to experience headwinds, which could put NAV under pressure.
We do appreciate the strides AINV has made the past couple years, including cutting fees above 1.00x D/E as well as authorizing a new $50.0 million stock repurchase program. We just do not think the company is out of the woods yet, especially given lackluster operational performance in previous years.
We are revising our fiscal 2019 NII/share estimate to $0.59 from $0.60 and are maintaining our fiscal 2020 NII/share estimate of$0.64. We are maintaining our NEUTRAL rating and $6 price target." (11/1/2018)
- 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. " (10/9/2018)
Has Apollo Investment been receiving favorable news coverage?
News stories about AINV stock have trended somewhat negative this week, according to InfoTrie. InfoTrie ranks the sentiment of press coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Apollo Investment earned a coverage optimism score of -1.4 on InfoTrie's scale. They also assigned media stories about the asset manager a news buzz of 0.0 out of 10, indicating that recent press coverage is extremely unlikely to have an effect on the stock's share price in the near future.
Are investors shorting Apollo Investment?
Apollo Investment saw a drop in short interest in the month of December. As of December 14th, there was short interest totalling 693,275 shares, a drop of 73.1% from the November 30th total of 2,577,607 shares. Based on an average daily volume of 559,854 shares, the short-interest ratio is currently 1.2 days. Approximately 1.0% of the shares of the stock 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 (DNP), Nuveen Municipal Value Fund (NUV), Gabelli Equity Trust (GAB), Tri-Continental (TY), Adams Diversified Equity Fund (ADX), Tortoise Energy Infrastructure (TYG), PIMCO Corporate&Income Opportunity Fund (PTY), Royce Value Trust (RVT), Hercules Capital (HTGC), Liberty All-Star Equity Fund (USA), Boulder Growth & Income Fund (BIF), PIMCO High Income Fund (PHK), AllianceBernstein Global Hgh Incm Fd (AWF), Tekla Healthcare Investors (HQH) and Solar Capital (SLRC).
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 retail and institutional investors. Top institutional shareholders include Confluence Investment Management LLC (0.35%), Cozad Asset Management Inc. (0.10%), DNB Asset Management AS (0.09%), Diligent Investors LLC (0.02%) and TCI Wealth Advisors Inc. (0.01%). 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 Confluence Investment Management LLC, Cozad Asset Management Inc., DNB Asset Management AS, Diligent Investors LLC and TCI Wealth Advisors 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 $14.53.
How big of a company is Apollo Investment?
Apollo Investment has a market capitalization of $1.04 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.
