Piper Jaffray Companies Analysts Give Ascent Capital Group Inc (ASCMA) a $14.00 Price Target
Ascent Capital Group Inc (NASDAQ:ASCMA) has been assigned a $14.00 price objective by Piper Jaffray Companies in a report released on Thursday. The firm presently has a “hold” rating on the industrial products company’s stock. Piper Jaffray Companies’ target price would suggest a potential downside of 9.03% from the stock’s previous close.
ASCMA has been the topic of several other research reports. Imperial Capital cut their target price on Ascent Capital Group from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, May 11th. ValuEngine lowered Ascent Capital Group from a “sell” rating to a “strong sell” rating in a research report on Monday. Finally, Zacks Investment Research upgraded Ascent Capital Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
Ascent Capital Group (NASDAQ:ASCMA) traded down 8.90% during trading on Thursday, reaching $14.02. The company had a trading volume of 2,875 shares. Ascent Capital Group has a 12-month low of $11.55 and a 12-month high of $26.16. The firm’s market capitalization is $170.12 million. The firm’s 50 day moving average price is $16.26 and its 200 day moving average price is $14.98.
Ascent Capital Group (NASDAQ:ASCMA) last announced its earnings results on Tuesday, May 9th. The industrial products company reported ($1.56) EPS for the quarter, beating the consensus estimate of ($1.61) by $0.05. Ascent Capital Group had a negative return on equity of 32.94% and a negative net margin of 13.42%. The company had revenue of $141.20 million for the quarter, compared to analyst estimates of $142.20 million. Analysts anticipate that Ascent Capital Group will post ($7.24) earnings per share for the current year.
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In related news, major shareholder Okumus Fund Management Ltd. sold 2,000 shares of the company’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 transaction of $34,220.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Opportunistic Value Fun Okumus sold 150,000 shares of the company’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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,600 shares of company stock worth $2,697,278. 8.65% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ASCMA. SG Americas Securities LLC purchased a new position in Ascent Capital Group during the first quarter worth $123,000. Cigna Investments Inc. New purchased a new position in Ascent Capital Group during the second quarter worth $159,000. First Manhattan Co. increased its position in Ascent Capital Group by 14.5% in the first quarter. First Manhattan Co. now owns 14,566 shares of the industrial products company’s stock worth $337,000 after buying an additional 1,842 shares during the period. First Quadrant L P CA purchased a new position in Ascent Capital Group during the second quarter worth $270,000. Finally, Nine Chapters Capital Management LLC increased its position 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 worth $267,000 after buying an additional 6,800 shares during the period. 82.33% of the stock is currently owned by institutional investors and hedge funds.
Ascent Capital Group Company Profile
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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