Wall Street analysts forecast that Ascent Capital Group Inc (NASDAQ:ASCMA) will announce $137.52 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Ascent Capital Group’s earnings. The highest sales estimate is $139.28 million and the lowest is $135.76 million. Ascent Capital Group posted sales of $140.68 million during the same quarter last year, which suggests a negative year-over-year growth rate of 2.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that Ascent Capital Group will report full-year sales of $137.52 million for the current fiscal year, with estimates ranging from $555.70 million to $559.19 million. For the next financial year, analysts anticipate that the company will report sales of $549.92 million per share, with estimates ranging from $539.31 million to $560.53 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Ascent Capital Group.
A number of research firms recently commented on ASCMA. ValuEngine cut shares of Ascent Capital Group from a “sell” rating to a “strong sell” rating in a research report on Monday, February 5th. Zacks Investment Research cut shares of Ascent Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Imperial Capital raised shares of Ascent Capital Group from an “in-line” rating to an “outperform” rating and decreased their target price for the company from $13.50 to $13.00 in a research report on Friday, November 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $16.00 target price on shares of Ascent Capital Group in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.00.
Shares of Ascent Capital Group (ASCMA) traded up $0.18 on Monday, hitting $6.63. 50,700 shares of the stock traded hands, compared to its average volume of 55,755. Ascent Capital Group has a 52-week low of $6.22 and a 52-week high of $17.84. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.34 and a quick ratio of 1.34.
In related news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 863,908 shares of company stock valued at $9,505,606 in the last three months. 9.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ASCMA. Schwab Charles Investment Management Inc. raised its holdings in shares of 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 worth $1,336,000 after buying an additional 44,153 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $862,000 after buying an additional 687 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of 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 worth $357,000 after acquiring an additional 2,892 shares during the period. Northern Trust Corp increased its stake in shares of Ascent Capital Group by 17.5% in the second quarter. Northern Trust Corp now owns 133,414 shares of the industrial products company’s stock worth $2,049,000 after acquiring an additional 19,918 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Ascent Capital Group by 1.3% in the second quarter. Renaissance Technologies LLC now owns 914,700 shares of the industrial products company’s stock worth $14,050,000 after acquiring an additional 11,500 shares during the period. 80.30% 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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