Ascent Capital Group Inc. (ASCMA) Trading 7.2% Higher
Ascent Capital Group Inc. (NASDAQ:ASCMA)’s share price traded up 7.2% during trading on Wednesday . The company traded as high as $16.00 and last traded at $16.00, with a volume of 61,967 shares traded. The stock had previously closed at $14.92.
Several equities research analysts recently commented on ASCMA shares. Imperial Capital downgraded Ascent Capital Group from an “outperform” rating to an “in-line” rating and set a $20.00 target price on the stock. in a report on Wednesday, June 22nd. BB&T Corp. initiated coverage on Ascent Capital Group in a report on Thursday, June 16th. They set a “hold” rating on the stock. Finally, Zacks Investment Research upgraded Ascent Capital Group from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, May 11th.
The stock’s market cap is $198.45 million. The company has a 50 day moving average price of $17.49 and a 200-day moving average price of $14.71.
Ascent Capital Group (NASDAQ:ASCMA) last posted its quarterly earnings results on Monday, May 9th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($1.89) by $0.03. On average, analysts forecast that Ascent Capital Group Inc. will post ($5.72) earnings per share for the current fiscal year.
In related news, VP William E. Niles sold 1,500 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 66,408 shares in the company, valued at approximately $1,271,049.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of hedge funds and institutional investors have recently made changes to their positions in ASCMA. Alambic Investment Management L.P. bought a new position in Ascent Capital Group during the fourth quarter valued at about $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 in the last quarter. 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 in the last quarter. 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 in the last quarter.
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.