Ascent Capital Group, Inc. (ASCMA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Ascent Capital Group, Inc. (NASDAQ:ASCMA) from a hold rating to a sell rating in a report published on Friday, May 12th.

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. “

Separately, Imperial Capital dropped their target price on shares of Ascent Capital Group from $21.00 to $15.00 and set an outperform rating for the company in a report on Thursday, May 11th.

Ascent Capital Group (NASDAQ ASCMA) traded up 0.47% during midday trading on Friday, reaching $14.86. The company had a trading volume of 71,383 shares. The company’s market cap is $180.31 million. The company’s 50-day moving average is $13.67 and its 200 day moving average is $15.25. Ascent Capital Group has a 52-week low of $11.55 and a 52-week high of $26.16.

Ascent Capital Group (NASDAQ:ASCMA) last announced its quarterly earnings data on Tuesday, May 9th. The industrial products company reported ($1.56) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.61) by $0.05. The firm had revenue of $141.20 million for the quarter, compared to analysts’ expectations of $142.20 million. Ascent Capital Group had a negative return on equity of 33.84% and a negative net margin of 15.29%. On average, equities research analysts forecast that Ascent Capital Group will post ($7.24) EPS for the current year.

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Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Ascent Capital Group during the first quarter valued at $123,000. Citadel Advisors LLC purchased a new stake in shares of Ascent Capital Group during the third quarter valued at $291,000. A.R.T. Advisors LLC bought a new stake in Ascent Capital Group during the fourth quarter worth approximately $214,000. First Manhattan Co. increased its stake in Ascent Capital Group by 14.5% in the first quarter. First Manhattan Co. now owns 14,566 shares of the industrial products company’s stock worth $337,000 after buying an additional 1,842 shares during the period. Finally, Nine Chapters Capital Management LLC increased its stake in Ascent Capital Group by 56.2% in the first quarter. Nine Chapters Capital Management LLC now owns 18,900 shares of the industrial products company’s stock worth $267,000 after buying an additional 6,800 shares during the period. 82.58% of the stock is owned by institutional investors.

Ascent Capital Group Company Profile

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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