Ascent Capital Group Inc. (ASCMA) Upgraded by Zacks Investment Research to Hold
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, Imperial Capital lifted their price target on Ascent Capital Group from $20.00 to $21.00 and gave the company a hold rating in a report on Thursday, August 11th.
Ascent Capital Group (NASDAQ:ASCMA) opened at 17.68 on Tuesday. Ascent Capital Group has a 52 week low of $7.77 and a 52 week high of $26.16. The stock’s market capitalization is $213.95 million. The firm has a 50-day moving average of $20.65 and a 200 day moving average of $19.67.
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In other Ascent Capital Group news, major shareholder Opportunistic Value Fun Okumus sold 13,398 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $19.90, for a total value of $266,620.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael R. Meyers sold 5,407 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $19.77, for a total value of $106,896.39. Following the completion of the transaction, the insider now directly owns 50,890 shares in the company, valued at $1,006,095.30. The disclosure for this sale can be found here. Corporate insiders own 8.65% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Ascent Capital Group during the first quarter worth about $677,000. First Republic Investment Management Inc. raised its position in shares of Ascent Capital Group by 100.0% in the first quarter. First Republic Investment Management Inc. now owns 221,396 shares of the company’s stock worth $3,279,000 after buying an additional 110,681 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Ascent Capital Group by 4.9% in the second quarter. Acadian Asset Management LLC now owns 13,210 shares of the company’s stock worth $203,000 after buying an additional 614 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Ascent Capital Group during the second quarter worth about $801,000. Finally, California Public Employees Retirement System raised its position in shares of Ascent Capital Group by 15.2% in the second quarter. California Public Employees Retirement System now owns 104,400 shares of the company’s stock worth $1,607,000 after buying an additional 13,800 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors.
About Ascent Capital Group
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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