JPMorgan Chase & Co. lowered its stake in American Capital Ltd. (NASDAQ:ACAS) by 58.7% during the second quarter, Holdings Channel reports. The firm owned 567,767 shares of the company’s stock after selling 807,678 shares during the period. JPMorgan Chase & Co. owned approximately 0.26% of American Capital worth $8,987,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of American Capital by 9.7% in the first quarter. IFP Advisors Inc now owns 9,343 shares of the company’s stock valued at $142,000 after buying an additional 829 shares during the period. Creative Planning boosted its position in shares of American Capital by 51.2% in the second quarter. Creative Planning now owns 9,572 shares of the company’s stock valued at $152,000 after buying an additional 3,241 shares during the period. Princeton Alpha Management LP acquired a new position in shares of American Capital during the second quarter valued at about $235,000. BlueMountain Capital Management LLC acquired a new position in shares of American Capital during the first quarter valued at about $278,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of American Capital during the second quarter valued at about $361,000. 68.14% of the stock is owned by hedge funds and other institutional investors.
American Capital Ltd. (NASDAQ:ACAS) traded down 0.06% on Friday, reaching $17.00. 363,321 shares of the company’s stock were exchanged. American Capital Ltd. has a 1-year low of $12.14 and a 1-year high of $17.11. The firm has a 50-day moving average price of $16.87 and a 200-day moving average price of $16.14. The company’s market capitalization is $3.62 billion.
American Capital (NASDAQ:ACAS) last issued its earnings results on Wednesday, August 3rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.23. American Capital had a negative net margin of 36.45% and a positive return on equity of 5.38%. The business earned $142 million during the quarter, compared to analysts’ expectations of $125.19 million. During the same quarter in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. Equities research analysts expect that American Capital Ltd. will post $1.22 earnings per share for the current year.
Separately, JPMorgan Chase & Co. cut shares of American Capital from an “overweight” rating to a “neutral” rating and set a $17.50 price objective for the company. in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.90.
American Capital Company Profile
American Capital, Ltd. (American Capital) is a global asset manager and private equity firm. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy and structured products.
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