Imperial Capital Equities Analysts Cut Earnings Estimates for Ascent Capital Group Inc. (ASCMA)
Ascent Capital Group Inc. (NASDAQ:ASCMA) – Research analysts at Imperial Capital reduced their FY2016 earnings per share estimates for Ascent Capital Group in a report released on Wednesday. Imperial Capital analyst J. Kessler now anticipates that the brokerage will post earnings of ($7.25) per share for the year, down from their prior forecast of ($5.96). Imperial Capital has a “Outperform” rating and a $21.00 price objective on the stock. Imperial Capital also issued estimates for Ascent Capital Group’s Q4 2016 earnings at ($1.36) EPS, Q1 2017 earnings at ($1.21) EPS, Q2 2017 earnings at ($0.96) EPS, Q3 2017 earnings at ($1.09) EPS, Q4 2017 earnings at ($1.07) EPS and FY2017 earnings at ($4.34) EPS.
Separately, Zacks Investment Research raised shares of Ascent Capital Group from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Friday, August 12th.
Ascent Capital Group (NASDAQ:ASCMA) opened at 19.89 on Friday. The stock’s market capitalization is $240.69 million. Ascent Capital Group has a 52-week low of $7.77 and a 52-week high of $26.16. The firm’s 50-day moving average is $21.55 and its 200 day moving average is $19.26.
In related news, VP William E. Niles sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $23.36, for a total value of $35,040.00. Following the transaction, the vice president now directly owns 61,908 shares in the company, valued at $1,446,170.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.65% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Ascent Capital Group by 719.6% in the second quarter. BlackRock Inc. now owns 8,270 shares of the company’s stock valued at $127,000 after buying an additional 7,261 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ascent Capital Group during the second quarter valued at $278,000. Dimensional Fund Advisors LP raised its stake in Ascent Capital Group by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 691,017 shares of the company’s stock valued at $10,635,000 after buying an additional 30,477 shares during the period. Acrospire Investment Management LLC raised its stake in Ascent Capital Group by 78.2% in the second quarter. Acrospire Investment Management LLC now owns 6,584 shares of the company’s stock valued at $101,000 after buying an additional 2,890 shares during the period. Finally, Nationwide Fund Advisors raised its stake in Ascent Capital Group by 364.0% in the second quarter. Nationwide Fund Advisors now owns 48,474 shares of the company’s stock valued at $746,000 after buying an additional 38,028 shares during the period. Institutional investors and hedge funds own 84.63% of the company’s stock.
Ascent Capital Group Company Profile
Ascent Capital Group, Inc is a holding company. The Company’s segments include Monitronics, LiveWatch and Other Activities. The Company’s subsidiaries include Monitronics International, Inc (Monitronics) and LiveWatch Security, LLC (LiveWatch). Monitronics provides a range of residential security services, including hands-free two-way interactive voice communication with the monitoring center, cellular options, and an interactive service option, which allows the customer to control their security system remotely using a computer or smart phone.
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