Ascent Capital Group, Inc. (ASCMA) Receives “Hold” Rating from Stifel Nicolaus
Ascent Capital Group, Inc. (NASDAQ:ASCMA)‘s stock had its “hold” rating reissued by stock analysts at Stifel Nicolaus in a note issued to investors on Friday. They currently have a $16.00 price objective on the industrial products company’s stock. Stifel Nicolaus’ target price points to a potential upside of 35.36% from the stock’s previous close.
A number of other equities analysts have also issued reports on ASCMA. Imperial Capital upgraded Ascent Capital Group from an “in-line” rating to an “outperform” rating and reduced their target price for the stock from $13.50 to $13.00 in a research note on Friday. ValuEngine lowered Ascent Capital Group from a “sell” rating to a “strong sell” rating in a research note on Monday, August 7th. Piper Jaffray Companies set a $14.00 target price on Ascent Capital Group and gave the stock a “hold” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered Ascent Capital Group from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.33.
Shares of Ascent Capital Group (NASDAQ:ASCMA) traded up $0.65 during mid-day trading on Friday, reaching $11.82. The company had a trading volume of 28,578 shares, compared to its average volume of 56,362.
Ascent Capital Group (NASDAQ:ASCMA) last issued its earnings results on Wednesday, August 9th. The industrial products company reported ($3.58) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.90) by ($1.68). The firm had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $142.68 million. Ascent Capital Group had a negative return on equity of 51.95% and a negative net margin of 19.68%. analysts forecast that Ascent Capital Group will post -9.68 earnings per share for the current year.
In other Ascent Capital Group news, Director Michael J. Pohl sold 2,500 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $11.93, for a total transaction of $29,825.00. Following the sale, the director now directly owns 17,927 shares of the company’s stock, valued at approximately $213,869.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ASCMA. Dimensional Fund Advisors LP grew its position in shares of Ascent Capital Group by 5.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 883,229 shares of the industrial products company’s stock valued at $12,480,000 after acquiring an additional 44,391 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Ascent Capital Group by 103.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 86,938 shares of the industrial products company’s stock valued at $1,336,000 after acquiring an additional 44,153 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Ascent Capital Group during the 2nd quarter valued at about $538,000. Northern Trust Corp grew its position in shares of Ascent Capital Group by 17.5% during the 2nd quarter. Northern Trust Corp now owns 133,414 shares of the industrial products company’s stock valued at $2,049,000 after acquiring an additional 19,918 shares during the period. Finally, First Quadrant L P CA acquired a new stake in shares of Ascent Capital Group during the 2nd quarter valued at about $270,000. 79.48% of the stock is currently owned by institutional investors.
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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