Ascent Capital Group Inc. (ASCMA) Lowered to “Hold” at Zacks Investment Research
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. “
A number of other analysts have also weighed in on the stock. Imperial Capital raised their target price on shares of Ascent Capital Group from $20.00 to $21.00 and gave the company a hold rating in a research report on Thursday, August 11th. BB&T Corp. assumed coverage on shares of Ascent Capital Group in a report on Thursday, June 16th. They set a hold rating on the stock.
Ascent Capital Group (NASDAQ:ASCMA) opened at 22.39 on Tuesday. The firm’s 50-day moving average price is $22.54 and its 200 day moving average price is $18.26. The firm’s market cap is $276.83 million. Ascent Capital Group has a 12-month low of $7.77 and a 12-month high of $29.42.
In other news, VP William E. Niles sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $23.36, for a total transaction of $35,040.00. Following the completion of the sale, the vice president now directly owns 61,908 shares of the company’s stock, valued at $1,446,170.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.65% of the company’s stock.
Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Ascent Capital Group by 98.9% in the first quarter. JPMorgan Chase & Co. now owns 475,518 shares of the company’s stock valued at $7,042,000 after buying an additional 236,445 shares during the period. Spark Investment Management LLC boosted its position in Ascent Capital Group by 141.5% in the first quarter. Spark Investment Management LLC now owns 45,400 shares of the company’s stock valued at $672,000 after buying an additional 26,600 shares during the period. Geode Capital Management LLC boosted its position in Ascent Capital Group by 9.4% in the first quarter. Geode Capital Management LLC now owns 90,179 shares of the company’s stock valued at $1,334,000 after buying an additional 7,757 shares during the period. Bogle Investment Management L P DE boosted its position in Ascent Capital Group by 56.7% in the first quarter. Bogle Investment Management L P DE now owns 113,037 shares of the company’s stock valued at $1,674,000 after buying an additional 40,879 shares during the period. Finally, Brigade Capital Management LP purchased a new position in Ascent Capital Group during the first quarter valued at $8,727,000. 84.46% of the stock is owned by institutional investors.
Ascent Capital Group Company Profile
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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