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Bullish on ACAS ...
ACAS
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+290.29%
in
246 days
American Capital, Ltd., formerly known as American Capital Strategies, Ltd., is a principal investment firm specializing in management and employee private equity buyouts, acquisitions, recapitalizations, mergers and acquisition, add-on acquisitions, securitizations, special situations, growth capital investments in middle market companies, early stage in mature private and public companies, corporate divestitures, acquisitions of portfolio companies of private equity firms, acquisitions of family-owned or closely held businesses, change of control, or the exit of minority shareholders, goi...
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Bearish on ACAS ...
ACAS
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+85.48%
in
463 days
another victim of the finacial downturn. Too small to be able to beat out the overall market downturn
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ACAS will drown in its own toxic waste
ACAS
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+90.38%
in
517 days
ACAS investments of $11.5bn are all high-risk assets - reflecting the nature of its business. With this in mind it is worth noting that it has book equity of equity of $6.5bn and a similar Market Cap of $6.3bn - implying that the underlying assets are equal to their book value. This appears to be a reasonable position in normal conditions. However one needs to take a closer look at the investment portfolio and stress test it with some conservative devaluation/impairment rates. Investment Mix Present Impairment Loss <> Senior <>< />< />< />< />< />< /><><><><><><><><><><><><><><>...
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Solid Performer
ACAS
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-3.73%
in
164 days
(closed on 07/19/07)
ACAS seems to be a conservative, solid performer that gained 28.4% in 2006. Management seems more than competent and they continue to diversify their investments across a broad spectrum of sectors. The dividend they offer is high which is a great bonus as well. Looking at the chart, it shows a nice uptrend without signs of slowing down. On the 3 month chart, the 50MA is almost a straight line which is fairly amazing. I think we might see a small correction in the next couple days as we've seen throughout this uptrend, but I think it will continue upwards from there as it has done in the pas...
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From the Blogosphere
American Capital Restructures Debt – Analyst Blog
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Last week, American Capital (ACAS) announced its debt restructuring deal. Pursuant to the agreement, the company has reached a deal with lenders to restructure its revolving line of credit, which would provide for restructuring all of its $2.4 billion worth of unsecured debt by pledging substantially all of the company’s assets.
This $2.4 billion of unsecured debt involves $1.4 billion in unsecured revolving credit facility, $550 million in public bonds and $415 million in private notes. The announcement came in as American Capital reported gain of 12 cents in third quarter 2009, compare...
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American Capital Lags by a Penny – Analyst Blog
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American Capital’s (ACAS) third quarter operating income of 12 cents per share was a penny short of the Zacks Consensus Estimate. Last year, the company had reported earnings of 74 cents per share. The results were negatively affected due to interest expense for “make-whole" interest accruals and dilution from stock dividend.
Total interest and dividend income for the quarter was $177 million, down 30% from $253 million in the prior-year quarter. The decline in interest and dividend income was due to a decline in the weighted average effective interest rate on debt investments due to a...
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Allied Capital Goes from Value Trap to Deep Value
<>For those that follow this blog, I once wrote about an asset class known as business development companies, particularly middle-market lending BDCs. These businesses typically concentrate on investing through the financing of middle-market private equity transactions. Over the last year, some have come under pressure as a result of government regulations over BDCs which require them to maintain certain asset coverage levels. As a result of the disjunction in the markets, mark-to-market mark downs on BDC portfolios resulted in some BDCs (most recognizably Allied Capital (ALD) and <>American Ca...
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Allied Capital Goes from Value Trap to Deep Value
<>For those that follow this blog, I once wrote about an asset class known as business development companies, particularly middle-market lending BDCs. These businesses typically concentrate on investing through the financing of middle-market private equity transactions. Over the last year, some have come under pressure as a result of government regulations over BDCs which require them to maintain certain asset coverage levels. As a result of the disjunction in the markets, mark-to-market mark downs on BDC portfolios resulted in some BDCs (most recognizably Allied Capital (ALD) and <>American Ca...
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6 Dividend Stocks for Current Income
<>Most novice dividend investors typically are under the impression that successful dividend investing entails finding and purchasing the highest yielding stocks. This strategy is flawed, because it does not take into account the sustainability of the dividend. A company, which yields 20%, might generate a much lower yield on cost over time.
I purchased American Capital (ACAS) in 2008 when this business development company was trading at $30 and was yielding 13%. Just a few months later the company suspended its dividend payment, and I sold it immediately. The thing to learn from this example ...
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About American Capital Strategies Ltd.
- Answers.com
