American Capital Ltd. (ACAS) Update: Share Purchases; Investment; and Sale

American Capital Announces the Purchase of 9 Million Shares American Capital Ltd. announced [Source] that during the first quarter of 2013, it purchased 9.0 million shares of American Capital common stock, or 3% of the company’s outstanding shares.  The shares were purchased at an average price of $14.23 per share, totaling approximately $128.3 million. The […]

American Capital (ACAS) Reports Good 4Q12 Results

American Capital (ACAS) reported 4Q12 earnings before the market open on 2/11/2013. It was a good quarter and an outstanding year. Although the rate of improvement has slowed from the extraordinary (but unsustainable) rates we experienced recently there continues to be encouraging signs of further returns. Our investment thesis continues to play out well. We centered […]

American Capital (ACAS) Reports 3Q12 Results

American Capital (ACAS) reported 3Q12 earnings after the market close 10/29/12. It was another solid quarter: our investment thesis is playing out well and as a bonus we can anticipate continued gains as intrinsic value increases. You will recall in our thesis ACAS after many years of successful performance was severely punished during the financial crises. The […]

American Capital (ACAS) Reports 2Q12

American Capital (ACAS) reported 2Q12 earnings after the market close 7/31/12 and held the conference call at 10 CT on 8/2/12. It is a good report and our investment thesis remains on track. After successive quarters of consistent improvement the company remains an attractive investment in my view trading at a 38% discount to the improving book value […]

American Capital (ACAS) Reports 1Q12

American Capital LTD (ACAS) reported 1Q12 earnings after the market close 5/1/12 and held the conference call today at 10 CT. It was another good report from ACAS. Our investment thesis remains on track and the only disappointment from last quarter is being addressed. ACAS remains an attractive investment  in my view trading at a […]

American Capital (ACAS) Reports 4Q11

American Capital LTD (ACAS) reported earnings after the market close 2/14/12. It was a good report and our investment thesis is on track but there is one disappointment. More on that later. Our Net Asset Value (NAV) estimates of $13.48/share by yearend 2012 was exceeded yearend 2011 as the company reported $13.87 NAV per share […]

American Capital Ltd (ACAS)

Summary: American Capital Ltd (ACAS) offers a unique opportunity for non-institutional investors to invest in private equity at a deep discount to its intrinsic value.  It is a company going through a restructuring and appears to be a good opportunity for investors looking for value ideas. It appears in the three valuation cases an acceptable […]