The more i watch ACAS the more i see similarities to FSAM as an external manager with regards to fees and putting mgmts pocket ahead of shareholders. Blah. Anyways im done harping.
I hear you amigo but may I cite the price action in the floating rate bretheren FSFR PFLT etc etc. IMHO this group will fall farther than the rate of interest you will be getting. Hence putting your principle at significant risk relative to your div expectations. Thats my call. Takes two to tango.
The whole short conspiracy theory is BS. Its black box's and altos putting on hedges. And for what its worth...If can short 200k shares and hedge with buying calls....just in case....my upside is SRPT cratering back to single digits. And I'm covered should it rally on submission approval
Its not going up 20 on approval...but down well sure could drop 20 if not. That is called risk reward hedging fellas.
Its not that easy to understand. As rates go higher....do not expect ACSF to increase interest payments in a linear fashion. Its based off the LIBOR and sensitivity thereof. IT WILL GO LOWER IF RATES GO HIGHER NEAR TERM...by the time you get your higher dividends you may lose 25% of your money.
What angers me is no one knows what they own anymore. People bought AGNC and MTGE and got crushed. People are buying hi yield bond funds and are getting decimated. ACSF and the whole floating rate complex is in the same boat. Its damn shame.
SRPT has found a level that fair until new catalysts. Other bios are ripping today however. SRPT is in a show me state at this point.
Already announced it. Basically mgmt has paid a dollar lower to buy back stock since 2011. Ehh....i dont even know what to say.
(DOW JONES) Press Release: American Capital Announces the Repurchase of 6.5 Million Shares of Its Common Stock
Press Release: American Capital Announces the Repurchase of 6.5 Million Shares of Its Common Stock
American Capital Announces the Repurchase of 6.5 Million Shares of Its
BETHESDA, Md., June 29, 2015
BETHESDA, Md., June 29, 2015 /PRNewswire/ -- American Capital, Ltd. (Nasdaq:
ACAS) ("American Capital" or the "Company") announced today that in the
second quarter of 2015 it made open market purchases of approximately 6.5
million shares of American Capital common stock, or 2.4% of the Company's
outstanding shares as of March 31, 2015. The shares were purchased at an
average price of $14.32 per share, totaling approximately $92.6 million.
Starting in the third quarter of 2011, American Capital has made open market
purchases of 108.1 million shares, or 31.3% of the Company's outstanding
shares as of June 30, 2011, at an average price of $11.90 per share,
totaling $1.3 billion. Purchases starting in the third quarter of 2011
through March 2015 were $1.91 per share accretive to the Company's $20.12
net asset value ("NAV") per share as of March 31, 2015. Accretion from the
purchases in the second quarter of 2015 will be disclosed in the Company's
second quarter earnings release.
1. Accretiion from stock buy backs have really done little to increase confidence as the shares continue to trade historically large discount.
2/3. The delaying of the reorg...(it has been delayed significantly already) again does not instill confidence with holders.
This has become an unfortunate story.
Lol. Unfortunately ACAS went to a "floating rate" model. Abandoned its control investments at large discounts to premium marks only months later. No dividend to support the stock....just fees to support salaries of mgmt. And generous stock options of course. Meanwhile Ares just got married to Kayne. Who wants to marry this leftover?
For the last few trading sessions whomever is short QURE is just sitting on the offer....shorting it with ease...you can see him sitting there on ARCA with size. Unfortunately QURE is so thin he can push the stock around very easily. A shame.
lol. If SRPT announced they had a free canteen for employees at HQ, this board would put a PMO spin on it. Stay the course people. Its all about approval and adcom. Period.
It didnt rally enough for a tangible fade opportunity...it printed 34.50 pre open...but no size to trade against. Anyways thats for shekels. The real catalyst higher or lower will be approval and adcom.
Well said. While everyone on this board is looking for a reason for the shares to go higher....one must be prudent in what to look for. Its like saying the oil and gas companies are borrowing money hand over fist because they see endless profits!!! And then we know what happened there. Poof.
Approval and Adcom matter here. Everything else is noise.
lol...im long from the low teens.....but always enjoy trading around my core position. I do love how quickly one gets lambasted on this board for discussing anything that has to do with the shares going south....even for a trade. Remember..all is never 100%...just ask the XOMA holders from yesterday.....That being said...I am risk off in this name.