Ascent Capital Group (NASDAQ:ASCMA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $13.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.74% from the company’s current price.
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. “
A number of other analysts also recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price objective on shares of Ascent Capital Group in a report on Friday, November 3rd. Imperial Capital raised shares of Ascent Capital Group from an “in-line” rating to an “outperform” rating and reduced their price objective for the stock from $13.50 to $13.00 in a research 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 given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $14.00.
In other news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $11.00, for a total value of $9,460,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 865,862 shares of company stock valued at $9,528,273. 9.60% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of ASCMA. Zacks Investment Management boosted its position in shares of Ascent Capital Group by 0.8% during the 2nd quarter. Zacks Investment Management now owns 11,691 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 97 shares during the last quarter. Teachers Advisors LLC increased its stake in 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 worth $357,000 after purchasing an additional 2,892 shares during the period. Bank of Nova Scotia purchased a new position in Ascent Capital Group in the 2nd quarter worth approximately $538,000. Schwab Charles Investment Management Inc. grew its position in shares of Ascent Capital Group by 6.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,785 shares of the industrial products company’s stock worth $605,000 after buying an additional 2,565 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its position in shares of Ascent Capital Group by 2.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 53,710 shares of the industrial products company’s stock worth $825,000 after buying an additional 1,090 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.
About Ascent Capital Group
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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