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About my pic: taken at sunset from our condo in Maui. About me: I grew up with a mother who worked to support three kids. My life/wealth is a product of hard work and choices of my own making. I have been a computer engineer for nearly 29 years. My real passion, however, is dividend growth... More
  • Apollo Investment Corporation (AINV) - Insiders Like This Stock 0 comments
    Aug 9, 2010 10:50 PM | about stocks: AINV

    Since April of 2010, there have been three insider purchases of Apollo Investment Corporation (NASDAQ:AINV). While insiders sell for many reasons, they generally buy for only one - they believe that their stock is undervalued at current prices.

    Two purchases on June 4, 2010: 

    Stein Elliot Jr., a director - purchased $20k for $10.04/share.

    Richard Peteka, the CFO and treasurer purchased nearly $100k for $9.98/share.

    Today, August 6, 2010, the CEO and also a director, purchased $44.5k for $9.90.

    I start to take notice when the upper management starts buying their own stock, especially above the director level.

    This company and it's stock has had some tough times through the financial crisis but then again, so did most financial stocks. The first positive sign, after cutting their dividend in half was to restore a small part of it in August of 2009.

    I've followed this BDC for quite some time and think that, assuming no double-dip recession, this will be one of the stronger BDCs to own. That said, I welcome other opinions.

    Disclosure: long AINV
    Stocks: AINV
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