Ascent Capital Group (ASCMA) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Ascent Capital Group (NASDAQ:ASCMA) from a buy rating to a hold rating in a research note published on Wednesday.

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. “

A number of other research firms have also recently weighed in on ASCMA. Imperial Capital raised shares of Ascent Capital Group from an in-line rating to an outperform rating and decreased their target price for the stock from $13.50 to $13.00 in a research note on Friday, November 3rd. Stifel Nicolaus reaffirmed a hold rating and set a $16.00 target price on shares of Ascent Capital Group in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $14.00.

Ascent Capital Group (NASDAQ:ASCMA) traded up $0.10 during midday trading on Wednesday, hitting $11.53. 72,140 shares of the company’s stock were exchanged, compared to its average volume of 63,567. The company has a market capitalization of $147.91, a PE ratio of -1.27 and a beta of 1.59. Ascent Capital Group has a 12-month low of $8.87 and a 12-month high of $17.84. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 11.96.

In other news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of Ascent Capital Group stock in a transaction on Monday, December 11th. The shares were sold at an average price of $11.00, for a total transaction of $9,460,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 865,862 shares of company stock worth $9,528,273. Insiders own 9.60% of the company’s stock.

Several large investors have recently modified their holdings of ASCMA. Vanguard Group Inc. lifted its holdings in Ascent Capital Group by 2.2% in the first quarter. Vanguard Group Inc. now owns 447,733 shares of the industrial products company’s stock valued at $6,326,000 after buying an additional 9,468 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Ascent Capital Group by 103.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 86,938 shares of the industrial products company’s stock valued at $1,336,000 after buying an additional 44,153 shares during the period. Bank of New York Mellon Corp lifted its holdings in Ascent Capital Group by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 56,060 shares of the industrial products company’s stock valued at $862,000 after buying an additional 687 shares during the period. Teachers Advisors LLC lifted its holdings in Ascent Capital Group by 14.2% in the second quarter. Teachers Advisors LLC now owns 23,260 shares of the industrial products company’s stock valued at $357,000 after buying an additional 2,892 shares during the period. Finally, Thrivent Financial For Lutherans lifted its holdings in Ascent Capital Group by 2.1% in the second quarter. Thrivent Financial For Lutherans now owns 53,710 shares of the industrial products company’s stock valued at $825,000 after buying an additional 1,090 shares during the period. Institutional investors own 80.70% of the company’s stock.

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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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