Ascent Capital Group, Inc. (NASDAQ:ASCMA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, July 11th.
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 cut their price target on Ascent Capital Group from $21.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, May 11th.
Shares of Ascent Capital Group (NASDAQ:ASCMA) traded down 4.60% on Tuesday, reaching $11.61. The company had a trading volume of 74,999 shares. The stock has a 50-day moving average price of $16.09 and a 200-day moving average price of $14.93. Ascent Capital Group has a 12 month low of $11.36 and a 12 month high of $26.16. The stock’s market cap is $143.44 million.
Ascent Capital Group (NASDAQ:ASCMA) last released its quarterly earnings results on Wednesday, August 9th. The industrial products company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.90) by $1.68. The company had revenue of $140.50 million for the quarter, compared to analyst estimates of $142.68 million. Ascent Capital Group had a negative net margin of 19.15% and a negative return on equity of 44.13%. Analysts predict that Ascent Capital Group will post ($7.24) earnings per share for the current fiscal year.
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In other news, major shareholder Opportunistic Value Fun Okumus sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $17.00, for a total value of $2,550,000.00. The sale was disclosed in a filing with the SEC, which is accessible 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 stock was 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. Insiders sold a total of 158,600 shares of company stock worth $2,697,278 in the last 90 days. Company insiders own 8.65% of the company’s stock.
Several institutional investors have recently made changes to their positions in ASCMA. Renaissance Technologies LLC increased its position in shares of Ascent Capital Group by 1.3% in the second quarter. Renaissance Technologies LLC now owns 914,700 shares of the industrial products company’s stock worth $14,050,000 after buying an additional 11,500 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Ascent Capital Group by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 910,391 shares of the industrial products company’s stock valued at $13,984,000 after buying an additional 27,162 shares during the last quarter. Vanguard Group Inc. increased its position in Ascent Capital Group by 2.2% in the first quarter. Vanguard Group Inc. now owns 447,733 shares of the industrial products company’s stock valued at $6,326,000 after buying an additional 9,468 shares during the last quarter. State Street Corp increased its position in Ascent Capital Group by 0.7% in the fourth quarter. State Street Corp now owns 223,562 shares of the industrial products company’s stock valued at $3,640,000 after buying an additional 1,545 shares during the last quarter. Finally, Northern Trust Corp increased its position 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 buying an additional 19,918 shares during the last quarter. Hedge funds and other institutional investors own 82.33% of the company’s stock.
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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