Ascent Capital Group Inc. (ASCMA) Trading 7.2% Higher
Ascent Capital Group Inc. (NASDAQ:ASCMA) shares traded up 7.2% during mid-day trading on Wednesday . The company traded as high as $16.00 and last traded at $16.00, with a volume of 61,967 shares changing hands. The stock had previously closed at $14.92.
A number of research analysts have issued reports on the company. BB&T Corp. assumed coverage on Ascent Capital Group in a research note on Thursday, June 16th. They issued a “hold” rating for the company. Imperial Capital cut Ascent Capital Group from an “outperform” rating to an “in-line” rating and set a $20.00 target price for the company. in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research raised Ascent Capital Group from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, May 11th.
The stock’s market capitalization is $192.35 million. The firm has a 50-day moving average of $17.43 and a 200-day moving average of $14.72.
Ascent Capital Group (NASDAQ:ASCMA) last announced its quarterly earnings results on Monday, May 9th. The company reported ($1.86) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.89) by $0.03. Equities analysts anticipate that Ascent Capital Group Inc. will post ($5.72) EPS for the current fiscal year.
In related news, VP William E. Niles sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $19.14, for a total transaction of $28,710.00. Following the completion of the transaction, the vice president now directly owns 66,408 shares of the company’s stock, valued at approximately $1,271,049.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several hedge funds and institutional investors have bought and sold shares of the company. Alambic Investment Management L.P. acquired a new position in Ascent Capital Group during the fourth quarter valued at $1,033,000. Teton Advisors Inc. raised its position in Ascent Capital Group by 4.6% in the fourth quarter. Teton Advisors Inc. now owns 279,463 shares of the company’s stock valued at $4,673,000 after buying an additional 12,184 shares during the period. Staley Capital Advisers Inc. raised its position in Ascent Capital Group by 11.7% in the fourth quarter. Staley Capital Advisers Inc. now owns 285,000 shares of the company’s stock valued at $4,765,000 after buying an additional 29,900 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in Ascent Capital Group by 5.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 956,988 shares of the company’s stock valued at $16,001,000 after buying an additional 47,968 shares during the period.
Ascent Capital Group, Inc is a holding company. The Company’s segments include Monitronics, LiveWatch and Other Activities. The Company’s subsidiaries include Monitronics International, Inc (Monitronics) and LiveWatch Security, LLC (LiveWatch). Monitronics provides a range of residential security services, including hands-free two-way interactive voice communication with the monitoring center, cellular options, and an interactive service option, which allows the customer to control their security system remotely using a computer or smart phone.
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