Ascent Capital Group (NASDAQ:ASCMA) had its price objective lowered by research analysts at Stifel Nicolaus from $13.00 to $11.00 in a research note issued to investors on Thursday, March 15th, Marketbeat.com reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 192.55% from the stock’s previous close.
ASCMA has been the subject of several other research reports. Zacks Investment Research upgraded Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, January 2nd. Imperial Capital restated an “outperform” rating and issued a $10.00 price objective (down previously from $13.00) on shares of Ascent Capital Group in a report on Tuesday, March 6th. Finally, ValuEngine cut Ascent Capital Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.69.
ASCMA stock opened at $3.76 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 12.46. Ascent Capital Group has a 1 year low of $3.30 and a 1 year high of $17.84.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC grew its holdings in shares of Ascent Capital Group by 14.2% in 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. State Street Corp grew its holdings in shares of Ascent Capital Group by 3.0% in the 2nd quarter. State Street Corp now owns 228,283 shares of the industrial products company’s stock valued at $3,504,000 after acquiring an additional 6,682 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ascent Capital Group by 1,894.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 10,392 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 9,871 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new stake in Ascent Capital Group in the 4th quarter valued at about $163,000. Finally, Deutsche Bank AG lifted its stake in Ascent Capital Group by 137.1% in the 4th 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 last quarter. Institutional investors own 83.29% of the company’s stock.
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About Ascent Capital Group
Ascent Capital Group, Inc, through its subsidiary, Monitronics International, Inc, provides security alarm monitoring services to residential and commercial customers in the United States, Canada, the District of Columbia, and Puerto Rico. The company provides monitoring services for alarm signals arising from burglaries, fires, medical alerts, and other events through security systems at customers' premises.
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