Zacks Investment Research upgraded shares of Ascent Capital Group, Inc. (NASDAQ:ASCMA) from a strong sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Ascent Capital Group, Inc. is a holding company and its assets primarily consist of its wholly-owned subsidiary, Monitronics International, Inc. The Company provides security alarm monitoring and related services to residential and business subscribers throughout the United States and parts of Canada. Monitronics monitors signals arising from burglaries, fires and other events through security systems at subscribers’ premises. Ascent Capital Group, Inc., formerly known as Ascent Media Corporation, is based in Englewood, Colorado. “
Other equities research analysts have also issued research reports about the company. Piper Jaffray Companies set a $14.00 target price on Ascent Capital Group and gave the company a hold rating in a research report on Thursday, August 10th. Imperial Capital lowered Ascent Capital Group from an outperform rating to an in-line rating and dropped their target price for the company from $17.00 to $13.50 in a research report on Friday, August 11th. Finally, ValuEngine upgraded Ascent Capital Group from a strong sell rating to a sell rating in a research report on Friday, September 1st.
Ascent Capital Group (ASCMA) opened at 12.92 on Wednesday. The company’s market cap is $157.21 million. The stock has a 50 day moving average of $11.43 and a 200 day moving average of $13.58. Ascent Capital Group has a 52 week low of $8.87 and a 52 week high of $22.76.
Ascent Capital Group (NASDAQ:ASCMA) last issued its earnings results on Wednesday, August 9th. The industrial products company reported ($3.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.90) by ($1.68). The firm had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $142.68 million. Ascent Capital Group had a negative net margin of 19.15% and a negative return on equity of 46.93%. Equities research analysts predict that Ascent Capital Group will post ($9.68) EPS for the current fiscal year.
In other Ascent Capital Group news, major shareholder Opportunistic Value Fun Okumus sold 6,600 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $17.13, for a total value of $113,058.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Okumus Fund Management Ltd. sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $17.11, for a total value of $34,220.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,100 shares of company stock worth $2,727,103. 8.65% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in ASCMA. Dimensional Fund Advisors LP lifted its holdings in Ascent Capital Group by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 883,229 shares of the industrial products company’s stock valued at $12,480,000 after acquiring an additional 44,391 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Ascent Capital Group by 103.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 86,938 shares of the industrial products company’s stock valued at $1,336,000 after acquiring an additional 44,153 shares during the period. Bank of Nova Scotia acquired a new position in Ascent Capital Group in the second quarter valued at approximately $538,000. Northern Trust Corp lifted its holdings in Ascent Capital Group by 17.5% in the second quarter. Northern Trust Corp now owns 133,414 shares of the industrial products company’s stock valued at $2,049,000 after acquiring an additional 19,918 shares during the period. Finally, First Quadrant L P CA acquired a new position in Ascent Capital Group in the second quarter valued at approximately $270,000. 82.23% of the stock is owned by institutional investors.
About Ascent Capital Group
Ascent Capital Group, Inc is a holding company. The Company’s subsidiaries include Monitronics International, Inc (MONI) and LiveWatch Security, LLC (LiveWatch). The Company’s segments include MONI, LiveWatch and Other Activities. The MONI segment is primarily engaged in the business of providing security alarm monitoring services: monitoring signals arising from burglaries, fires, medical alerts and other events through security systems at subscribers’ premises, as well as providing customer service and technical support.
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