Ascent Capital Group (NASDAQ:ASCMA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, January 2nd. The brokerage currently has a $13.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 21.61% from the stock’s current price.
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 also recently issued reports on ASCMA. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price objective on shares of Ascent Capital Group in a report on Friday, November 3rd. Imperial Capital upgraded shares of Ascent Capital Group from an “in-line” rating to an “outperform” rating and lowered their price objective for the company from $13.50 to $13.00 in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.00.
Shares of Ascent Capital Group (NASDAQ ASCMA) traded up $0.01 during midday trading on Tuesday, hitting $10.69. 53,114 shares of the stock traded hands, compared to its average volume of 93,127. Ascent Capital Group has a one year low of $8.87 and a one year high of $17.84. The company has a market cap of $137.51, a price-to-earnings ratio of -1.18 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 11.96.
In related news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $11.00, for a total transaction of $9,460,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 865,862 shares of company stock valued at $9,528,273. 9.60% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Zacks Investment Management lifted its holdings in shares of Ascent Capital Group by 0.8% in the 2nd quarter. Zacks Investment Management now owns 11,691 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 97 shares in the last quarter. Teachers Advisors LLC lifted its stake in Ascent Capital Group by 14.2% during the 2nd quarter. Teachers Advisors LLC now owns 23,260 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 2,892 shares in the last quarter. Bank of Nova Scotia bought a new position in Ascent Capital Group during the 2nd quarter valued at $538,000. Schwab Charles Investment Management Inc. lifted its stake in Ascent Capital Group by 6.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,785 shares of the industrial products company’s stock valued at $605,000 after acquiring an additional 2,565 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Ascent Capital Group by 2.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 53,710 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 1,090 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.
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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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