Ascent Capital Group, Inc. (ASCMA) Major Shareholder Sells $34,220.00 in Stock
Ascent Capital Group, Inc. (NASDAQ:ASCMA) major shareholder Okumus Fund Management Ltd. sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $17.11, for a total value of $34,220.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Ascent Capital Group, Inc. (NASDAQ:ASCMA) traded down 1.13% during mid-day trading on Wednesday, reaching $16.56. The company’s stock had a trading volume of 50,824 shares. The firm’s 50 day moving average is $15.18 and its 200-day moving average is $14.94. The company’s market capitalization is $200.94 million. Ascent Capital Group, Inc. has a 52-week low of $11.55 and a 52-week high of $26.16.
Ascent Capital Group (NASDAQ:ASCMA) last issued its quarterly earnings results on Tuesday, May 9th. The industrial products company reported ($1.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.05. Ascent Capital Group had a negative return on equity of 33.84% and a negative net margin of 15.29%. The business had revenue of $141.20 million for the quarter, compared to the consensus estimate of $142.20 million. Analysts forecast that Ascent Capital Group, Inc. will post ($7.24) EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of ASCMA. SG Americas Securities LLC purchased a new position in shares of Ascent Capital Group during the first quarter worth approximately $123,000. A.R.T. Advisors LLC purchased a new position in shares of Ascent Capital Group during the fourth quarter worth approximately $214,000. Nine Chapters Capital Management LLC increased its position in shares of 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. First Quadrant L P CA purchased a new position in shares of Ascent Capital Group during the second quarter worth approximately $270,000. Finally, First Manhattan Co. increased its position in shares of 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. Institutional investors and hedge funds own 82.58% of the company’s stock.
A number of analysts have issued reports on ASCMA shares. Imperial Capital decreased their price target on Ascent Capital Group from $21.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, May 11th. Zacks Investment Research lowered Ascent Capital Group from a “hold” rating to a “sell” rating in a research note on Friday, May 12th.
About Ascent Capital Group
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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