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Ares Capital greenlighted for $100M in buybacks

Sep. 28, 2015 9:22 PM ETAres Capital (ARCC)By: Stephen Alpher, SA News Editor4 Comments
  • Ares Capital (NASDAQ:ARCC) becomes the latest BDC to respond to the plunge in its stock price to well below book value. At today's close of $14.32 - off 4.3% on the session and nearly 18% since early March - $100M would be enough to buy back almost 7M shares, or just 2.2% of the float.
  • June 30 net asset value per share was $16.80, putting the current price at 0.85x book.
  • Source: Press Release
  • Previously: Horizon Technology buying the dip in its stock (Sept. 28)

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