Ascent Capital Group Inc Series A (ASCMA) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Ascent Capital Group Inc Series A (NASDAQ:ASCMA) from a hold rating to a sell rating in a research note issued to investors 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. “

Separately, ValuEngine raised shares of Ascent Capital Group Inc Series A from a hold rating to a buy rating in a research note on Thursday, September 6th.

Shares of NASDAQ:ASCMA traded down $0.01 on Wednesday, reaching $0.71. The company’s stock had a trading volume of 100 shares, compared to its average volume of 83,872. Ascent Capital Group Inc Series A has a 52-week low of $0.60 and a 52-week high of $12.79. The stock has a market capitalization of $9.00 million, a P/E ratio of -0.08 and a beta of 2.05. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 17.72.

Ascent Capital Group Inc Series A (NASDAQ:ASCMA) last issued its quarterly earnings data on Monday, November 5th. The industrial products company reported ($3.24) EPS for the quarter, missing analysts’ consensus estimates of ($2.52) by ($0.72). Ascent Capital Group Inc Series A had a negative return on equity of 166.55% and a negative net margin of 61.42%. The business had revenue of $137.16 million during the quarter, compared to analysts’ expectations of $136.67 million. On average, analysts expect that Ascent Capital Group Inc Series A will post -11.85 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. LMR Partners LLP bought a new stake in Ascent Capital Group Inc Series A during the 2nd quarter valued at about $110,000. Renaissance Technologies LLC raised its holdings in shares of Ascent Capital Group Inc Series A by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 936,200 shares of the industrial products company’s stock valued at $2,631,000 after purchasing an additional 38,800 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Ascent Capital Group Inc Series A in the 2nd quarter valued at about $151,000. Nantahala Capital Management LLC raised its holdings in shares of Ascent Capital Group Inc Series A by 44.0% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,644,260 shares of the industrial products company’s stock valued at $4,620,000 after purchasing an additional 502,075 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Ascent Capital Group Inc Series A in the 2nd quarter valued at about $723,000. Institutional investors own 66.98% of the company’s stock.

Ascent Capital Group Inc Series A Company Profile

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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