Apollo Investment Corporation (NASDAQ:AINV) – Financial Results

Apollo Investment Corporation (NASDAQ:AINV) reported financial results for its fourth fiscal quarter

Apollo Investment Corporation (AINV) stock is growing 0.18% to $5.65. AINV exchanged 1.54 million stock in past session as compared to the average volume of 0.78 million shares while its relative volume is 2.00. Experts have a mean recommendation of 2.30 on this stock. The company grasps 216.14 million outstanding shares and 215.72 million shares are changing hands in market. Institutional owners hold 47.60% stake in the company, while Insiders ownership sustained at 0.10%. The stock has a beta factor of 0.99. It maintained ROA (TTM) at 3.30%. The stock’s short float is near0.33% and short ratio is 0.91.

Apollo Investment Corporation (AINV) recently reported financial results for its fourth fiscal quarter ended March 31, 2018. The Company’s net investment income was $0.15 per share for the quarter ended March 31, 2018, contrast to $0.16 per share for the quarter ended December 31, 2017. The Company’s net asset value (“NAV”) was $6.56 per share as of March 31, 2018, contrast to $6.60 as of December 31, 2017.

On May 17, 2018, the Board of Directors reported a distribution of $0.15 per share, payable on July 6, 2018 to shareholders of record as of June 21, 2018.


During the three months ended March 31, 2018, the Company repurchased 1,943,858 shares at a weighted average price per share of $5.73, inclusive of commissions, for a total cost of $11.1M.


Since the inception of the share repurchase program and through May 17, 2018, the Company repurchased 20,429,255 shares at a weighted average price per share of $5.88, inclusive of commissions, for a total cost of $120.1M, leaving a maximum of $29.9M accessible for future purchases under the current Board authorization of $150M.


The Company reported recently that it has made two executive officer appointments. Mr. Howard Widra, who has served as President of the Company since June 2016 has been designated Chief Executive Officer, succeeding Mr. James Zelter, who has served as Chief Executive Officer since 2006. Mr. Zelter will continue to serve as a Director and Mr. Widra has been named a Director. Mr. Tanner Powell has been designated President of Company filling the vacancy created by Mr. Widra’s appointment. Mr. Powell will also continue to serve as Chief Investment Officer for the Company’s Investment Adviser. These appointments reflect Messrs. Widra and Powell’s ongoing contributions to the successful execution of the Company’s portfolio repositioning plan over the past two years.

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