ACAS: American Capital Twitter on Stock

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Wednesday, June 12, 3:57 PM "We find our current price-to-book to be extremely attractive," American Capital (ACAS -0.7%) CEO Malon Wilkus tells (transcript) the Morgan Stanley conference. "I love to be a buyer at these prices. So we're going to take advantage of those people that choose to exit our shares at these levels." He notes regulations prohibit the buyback of more than 50% of outstanding shares over a 3-year period. 2 Comments [Financials]
Friday, June 7, 10:43 AM Treasury prices are sharply lower, but high yield (HYG +0.6%) is enjoying a nice bounce after a rough few weeks. The move is translating into higher prices for BDCs (BDCS +1.5%) - whose assets are somewhat comparable to junk debt. Leading: Prospect (PSEC +1.2%), Main Street (MAIN +2.2%), Triangle (TCAP +1%), MCG (MCGC +1.6%), American Capital (ACAS +1.7%), Fifth Street (FSC +1.1%), and Golub (GBDC +0.9%). As SA's Alberto Alfonso points out, American Capital - for one - can take advantage of recent declines to buy back even more shares at well below book value. 1 Comment [Financials, On the Move]
Monday, June 3, 11:52 AM Business development companies (BDCS -1.1%) see some selling as higher interest rates threaten to offer at least minor competition to their fat dividends. The drop in junk bond prices - a decent proxy for the assets on their books - isn't helping either. Leading on the downside today: Main Street (MAIN -4.5%), American Capital (ACAS -2.4%), Prospect Capital (PSEC -1.4%), Ares Capital (ARCC -1.1%), Blackrock Kelso (BKCC -1.1%). 5 Comments [Financials, On the Move]
Thursday, May 2, 12:59 PM American Capital (ACAS +1.9%) gets a little love from Wells Fargo after yesterday's post-earnings swoon. The stock trades at a massive discount to its BDC brethren - 0.74x NAV compared to 1.08x for the group - likely because of its policy of buying back shares instead of paying a dividend. Did ACAS have credit issues during the financial crisis? Yes, but no more so than MCGC which trades at book. "Market irrationality," say the analysts. 6 Comments [Financials, Quick Ideas]
Wednesday, May 1, 3:07 PM American Capital (ACAS -4.9%) bulls may be getting a buying opportunity post-earnings. A $47M sequential decline in revenue is largely the result of non-recurring factors, according to management (CC transcript). Of a $49M increase in non-accruals, CFO John Erickson reminds the company is often in a "very" junior position and weaker performance can force a loan into non-accrual status, but that doesn't mean the return disappears. (presentation slides). 2 Comments [Financials, On the Move]
Tuesday, April 30, 4:32 PM More on American Capital (ACAS) Q1 earnings: Net asset value of $19.04, up 7% or $1.20 from Dec. 31; today's closing price is 20% below NAV. 9M shares repurchased at average price of $14.23, accretive to NAV by $0.14. $98M of new committed investments during quarter at average interest rate of 10.6%, off 80 bps from Q4. Loans in non-accrual status jumps to 11.3% of total from 9% in Q4. Conference call tomorrow at 11 ET. Shares -1.5% AH. (PR) Comment! [Earnings, Financials]
Tuesday, April 30, 4:03 PM American Capital (ACAS): Q1 EPS of $0.21 misses by $0.07. Revenue of $133M misses by $23.93M. (PR) 1 Comment [Earnings, Breaking News, Financials]
Tuesday, April 30, 12:10 AM Notable earnings after Tuesday’s close: ACAS, AFFX, AJG, AMRS, APU, ATLS, AUY, AVB, BCOV, BGC, BLMN, BXP, CAVM, CLD, CRAY, DDR, DENN, DGI, DWA, EEP, EIX, ELGX, ELLI, ENTR, EQR, EZPW, FEIC, FIRE, FISV, FLEX, FMC, FTNT, GDOT, GEVO, GNW, HCBK, HT, HTCH, IACI, INT, JIVE, JLL, JMBA, LEAP, MDU, MERU, MRGE, MSPD, MTW, MWA, MX, NANO, NCR, NUVA, OKE, OKS, PRAA, PRXL, QCOR, QEP, REXX, RGC, RPXC, SGI, SHOR, SIMG, SKT, SM, SONS, STR, SWI, TE, TRMB, TRN, UGI, ULTI, UNTD, UNXL, VNR, VRSK, VRTX, WNC, WRI, WU, XCO Comment! [Earnings]
Monday, April 29, 5:35 PM Notable earnings after Tuesday’s close: ACAS, AFFX, AJG, AMRS, APU, ATLS, AUY, AVB, BCOV, BGC, BLMN, BXP, CAVM, CLD, CRAY, DDR, DENN, DGI, DWA, EEP, EIX, ELGX, ELLI, ENTR, EQR, EZPW, FEIC, FIRE, FISV, FLEX, FMC, FTNT, GDOT, GEVO, GNW, HCBK, HT, HTCH, IACI, INT, JIVE, JLL, JMBA, LEAP, MDU, MERU, MRGE, MSPD, MTW, MWA, MX, NANO, NCR, NUVA, OKE, OKS, PRAA, PRXL, QCOR, QEP, REXX, RGC, RPXC, SGI, SHOR, SIMG, SKT, SM, SONS, STR, SWI, TE, TRMB, TRN, UGI, ULTI, UNTD, UNXL, VNR, VRSK, VRTX, WNC, WRI, WU, XCO 2 Comments [Earnings]
Thursday, April 4, 2:33 PM American Capital (ACAS +0.6%) has its price target lifted to $15 from $12 at UBS which reiterates its Hold on the stock. The company also gets a shout out from Todd Sullivan who implores AIG to copy American Capital's strategy of aggressively buying back shares as long as they're below book value. 10 Comments [Financials]
Friday, March 29, 9:00 AM American Capital (ACAS) purchased 9M shares of common stock - 3% of the float - in Q1 for an average price of $14.23/share. The company has made clear it will aggressively buy shares (and refrain from a dividend) as long as the stock trades well south of NAV ($17.84 as of Dec. 31). The stock's more than doubled since the repurchases began in 2011 Q3. (PR) 5 Comments [Financials]
Thursday, February 28, 11:21 AM Billed as a private equity ETF, the newly listed PEX owns no Blackstone, KKR, or Fortress. The top U.S. holdings - ARCC, ACAS, PSEC, AINV, FSC - will be well-known to fans of BDCs though. 9 Comments [Financials]
Wednesday, February 20, 9:29 AM American Capital (ACAS) sells Paradigm Precision Holdings to a portfolio company of the Carlyle Group for $127M. American Capital's compounded annual rate of return since the 2007 investment comes to 11%. (PR) Comment! [Financials]
Monday, February 11, 8:04 AM More on American Capital (ACAS) Q4 earnings: Net asset value of $17.84 up 29% Y/Y, and remains a large premium (33.9%) to the share price. 8.8M shares (almost 3% of the float) repurchased during quarter at average price of $11.72 - added $0.18 to NAV. (PR) 3 Comments [Financials, Earnings]
Monday, February 11, 7:57 AM American Capital (ACAS): Q4 EPS of $0.26 beats by $0.01. Net asset value/share of $17.84, up from $17.39 in Q3. (PR) 1 Comment [Earnings, Breaking News, Financials]
Monday, February 11, 12:05 AM Notable earnings before Monday’s open: ACAS, BWP, L, RDN Comment! [Earnings]

ACAS American Capital

ACAS

American Capital