Ascent Capital Group (NASDAQ:ASCMA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $5.50 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.77% from the company’s previous close.
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. “
ASCMA has been the topic of several other reports. Stifel Nicolaus decreased their target price on shares of Ascent Capital Group from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, March 15th. ValuEngine raised shares of Ascent Capital Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 15th. Finally, Imperial Capital reissued an “outperform” rating and issued a $10.00 target price (down from $13.00) on shares of Ascent Capital Group in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Ascent Capital Group currently has a consensus rating of “Hold” and an average target price of $10.13.
Ascent Capital Group (ASCMA) traded down $0.13 on Tuesday, hitting $4.71. 52,578 shares of the company traded hands, compared to its average volume of 89,622. The company has a debt-to-equity ratio of 12.46, a current ratio of 1.38 and a quick ratio of 1.38. Ascent Capital Group has a twelve month low of $4.65 and a twelve month high of $17.84. The firm has a market capitalization of $62.52, a PE ratio of -0.52 and a beta of 1.56.
Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in Ascent Capital Group by 1,894.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,392 shares of the industrial products company’s stock valued at $119,000 after buying an additional 9,871 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of Ascent Capital Group during the fourth quarter valued at approximately $163,000. Deutsche Bank AG raised its stake in shares of Ascent Capital Group by 137.1% during the fourth quarter. Deutsche Bank AG now owns 24,851 shares of the industrial products company’s stock valued at $284,000 after purchasing an additional 14,371 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Ascent Capital Group during the fourth quarter valued at approximately $630,000. Finally, Northern Trust Corp raised its stake in shares of Ascent Capital Group by 17.5% during the second quarter. Northern Trust Corp now owns 133,414 shares of the industrial products company’s stock valued at $2,049,000 after purchasing an additional 19,918 shares during the period. 83.29% of the stock is currently owned by hedge funds and other institutional investors.
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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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