Teton Advisors Inc. reduced its holdings in shares of Ascent Capital Group Inc (NASDAQ:ASCMA) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,079 shares of the industrial products company’s stock after selling 7,805 shares during the period. Teton Advisors Inc.’s holdings in Ascent Capital Group were worth $2,299,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC grew its position in Ascent Capital Group by 14.2% during the second 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 during the last quarter. Bank of Nova Scotia bought a new position in shares of Ascent Capital Group in the second quarter worth approximately $538,000. Thrivent Financial For Lutherans grew its holdings in shares of Ascent Capital Group by 2.1% in the second quarter. Thrivent Financial For Lutherans now owns 53,710 shares of the industrial products company’s stock worth $825,000 after purchasing an additional 1,090 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ascent Capital Group by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 56,060 shares of the industrial products company’s stock worth $862,000 after purchasing an additional 687 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Ascent Capital Group by 103.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 86,938 shares of the industrial products company’s stock worth $1,336,000 after purchasing an additional 44,153 shares during the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.
Several brokerages have recently issued reports on ASCMA. Imperial Capital upgraded shares of Ascent Capital Group from an “in-line” rating to an “outperform” rating and cut their target price for the stock from $13.50 to $13.00 in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $16.00 target price on shares of Ascent Capital Group in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.00.
In related news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of Ascent Capital Group stock in a transaction on Monday, December 11th. The shares were sold at an average price of $11.00, for a total value of $9,460,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 865,862 shares of company stock worth $9,528,273. 9.60% of the stock is currently owned by company insiders.
Shares of Ascent Capital Group Inc (NASDAQ ASCMA) opened at $8.23 on Monday. Ascent Capital Group Inc has a fifty-two week low of $8.21 and a fifty-two week high of $17.84. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.34 and a quick ratio of 1.34.
Ascent Capital Group (NASDAQ:ASCMA) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported ($2.39) earnings per share for the quarter, missing the consensus estimate of ($2.30) by ($0.09). The company had revenue of $138.21 million during the quarter, compared to the consensus estimate of $139.38 million. Ascent Capital Group had a negative net margin of 19.68% and a negative return on equity of 56.10%. equities research analysts forecast that Ascent Capital Group Inc will post -9.73 EPS for the current year.
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Ascent Capital Group Company Profile
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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