Alliancebernstein L.P. decreased its stake in Ascent Capital Group, Inc. (NASDAQ:ASCMA) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,531 shares of the industrial products company’s stock after selling 1,100 shares during the period. Alliancebernstein L.P.’s holdings in Ascent Capital Group were worth $234,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Ascent Capital Group by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 838,838 shares of the industrial products company’s stock valued at $13,640,000 after buying an additional 51,428 shares during the period. Alambic Investment Management L.P. increased its stake in Ascent Capital Group by 29.4% in the first quarter. Alambic Investment Management L.P. now owns 58,747 shares of the industrial products company’s stock valued at $830,000 after buying an additional 13,331 shares during the period. SG Americas Securities LLC bought a new stake in Ascent Capital Group during the first quarter valued at about $123,000. 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 valued at $267,000 after buying an additional 6,800 shares during the period. Finally, Teachers Advisors LLC increased its stake in Ascent Capital Group by 21.7% in the fourth quarter. Teachers Advisors LLC now owns 21,381 shares of the industrial products company’s stock valued at $348,000 after buying an additional 3,808 shares during the period. Institutional investors own 82.09% of the company’s stock.
Shares of Ascent Capital Group, Inc. (ASCMA) remained flat at $11.66 during mid-day trading on Thursday. 1,782 shares of the company were exchanged. The company’s 50 day moving average is $15.80 and its 200-day moving average is $14.84. Ascent Capital Group, Inc. has a 12-month low of $11.36 and a 12-month high of $26.16. The company’s market capitalization is $141.88 million.
Ascent Capital Group (NASDAQ:ASCMA) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported ($3.58) EPS for the quarter, missing the Thomson Reuters’ 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%. On average, equities research analysts anticipate that Ascent Capital Group, Inc. will post ($9.68) EPS for the current year.
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ASCMA has been the subject of several recent analyst reports. Zacks Investment Research downgraded Ascent Capital Group from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Imperial Capital decreased 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. Piper Jaffray Companies set a $14.00 target price on Ascent Capital Group and gave the company a “hold” rating in a research note on Thursday, August 10th. Finally, ValuEngine downgraded Ascent Capital Group from a “sell” rating to a “strong sell” rating in a research note on Monday, August 7th.
In other Ascent Capital Group news, major shareholder Opportunistic Value Fun Okumus sold 150,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $17.00, for a total value of $2,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Okumus Fund Management Ltd. sold 2,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $17.11, for a total transaction of $34,220.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,600 shares of company stock valued at $2,697,278. Company insiders own 8.65% 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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