Ascent Capital Group Inc. (ASCMA) Stock Rating Lowered by Zacks Investment Research
Ascent Capital Group Inc. (NASDAQ:ASCMA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Several other research analysts have also recently issued reports on the stock. Imperial Capital lifted their target price on shares of Ascent Capital Group from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Thursday, August 11th. BB&T Corp. assumed coverage on shares of Ascent Capital Group in a report on Thursday, June 16th. They issued a “hold” rating for the company.
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Shares of Ascent Capital Group (NASDAQ:ASCMA) traded down 2.57% during mid-day trading on Tuesday, hitting $22.39. 65,195 shares of the company were exchanged. Ascent Capital Group has a 52 week low of $7.77 and a 52 week high of $29.42. The company’s market capitalization is $276.83 million. The company has a 50 day moving average of $22.54 and a 200 day moving average of $18.26.
In other news, VP William E. Niles sold 1,500 shares of Ascent Capital Group stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $23.36, for a total value of $35,040.00. Following the completion of the sale, the vice president now directly owns 61,908 shares in the company, valued at $1,446,170.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.65% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its stake in shares of Ascent Capital Group by 78.2% in the second quarter. Acrospire Investment Management LLC now owns 6,584 shares of the company’s stock valued at $101,000 after buying an additional 2,890 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Ascent Capital Group by 291.7% in the second quarter. Panagora Asset Management Inc. now owns 7,263 shares of the company’s stock valued at $112,000 after buying an additional 5,409 shares during the period. BlackRock Inc. raised its stake in shares of Ascent Capital Group by 719.6% in the second quarter. BlackRock Inc. now owns 8,270 shares of the company’s stock valued at $127,000 after buying an additional 7,261 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Ascent Capital Group by 8.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 10,447 shares of the company’s stock valued at $155,000 after buying an additional 840 shares during the period. Finally, Menta Capital LLC acquired a new stake in shares of Ascent Capital Group during the second quarter valued at about $185,000. Institutional investors own 84.46% of the company’s stock.
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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