Boston, MA 10/01/2013 (wallstreetpr) – Last week, American Capital Ltd. (NASDAQ:ACAS) announced that it had made open-market purchases of around 13.4M common stock shares in the 3Q13. This amounted to 4.6% of its outstanding shares as of 30 June 2013. These shares were bought at an average-price of $13.11 per share for a total value of $175.5M.
Since the start if the 2011 Q3, American Capital has bought 83.8M shares or 23.3 percent of its outstanding shares as of June 30, 2011 at an average price of $11.02/share which totaled $923.9M. The purchases that commenced in the 2011 Q3 through 2013 June were $1.40/share accretive to its $19.28 net asset-value /share as of 30 June 2013. If these shares had not been acquired by the company, it would have had to earn $405M more in the 8-quarter period in order to produce the same NAV/share. Accretion from the buys in the 2013 Q3 will be disclosed by the company in its Q3 earnings release.
Mondays trading
In Monday’s trading session, American Capital rose by 0.07%. The company’s shares opened at a price of $13.67, climbed to an intraday high of $13.82 and dropped to a close of $13.75. Approximately 3.20 million shares were traded on Monday while an average volume of 2.16 million shares were traded over 30 days. The 52-week low of the shares is $11.12 while the 52-week high is $15.23. The company has a market capitalization of $4.05 billion.
About the company
American Capital is an equity-firm and global asset-manager. It invests in private-equity, private-debt, and private real-estate securities and various other investments, technology-investments, special-situation investments, alternative-asset funds that are managed by it. It mainly invests in senior and mezzanine-debt and equity in the buyouts of various private companies that are sponsored by other private-equity funds. These provide capital straight to early-stage and mature-private and small, public companies
