Arrowstreet Capital Limited Partnership cut its position in Ascent Capital Group, Inc. (NASDAQ:ASCMA) by 74.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,183 shares of the industrial products company’s stock after selling 62,679 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.17% of Ascent Capital Group worth $325,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ASCMA. SG Americas Securities LLC purchased a new position in shares of Ascent Capital Group in the 1st quarter worth about $123,000. Cigna Investments Inc. New bought a new position in Ascent Capital Group during the 2nd quarter valued at approximately $159,000. Zacks Investment Management raised its position in 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 purchasing an additional 97 shares during the last quarter. First Quadrant L P CA bought a new position in Ascent Capital Group during the 2nd quarter valued at approximately $270,000. Finally, Teachers Advisors LLC raised its position in Ascent Capital Group by 14.2% during the 2nd quarter. Teachers Advisors LLC now owns 23,260 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 2,892 shares during the last quarter. Institutional investors own 79.40% of the company’s stock.
Ascent Capital Group, Inc. (ASCMA) traded down $0.33 during midday trading on Friday, hitting $12.01. The stock had a trading volume of 29,200 shares, compared to its average volume of 48,990. Ascent Capital Group, Inc. has a 12-month low of $8.87 and a 12-month high of $20.81. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 11.96.
Ascent Capital Group (NASDAQ:ASCMA) last announced its earnings results on Wednesday, August 9th. The industrial products company reported ($3.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.90) by ($1.68). The company had revenue of $140.50 million during the quarter, compared to the consensus estimate of $142.68 million. Ascent Capital Group had a negative return on equity of 56.10% and a negative net margin of 19.68%. analysts forecast that Ascent Capital Group, Inc. will post -9.73 EPS for the current fiscal year.
In other Ascent Capital Group news, Director Michael J. Pohl sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $11.93, for a total transaction of $29,825.00. Following the sale, the director now directly owns 17,927 shares of the company’s stock, valued at $213,869.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by company insiders.
A number of research analysts have commented on ASCMA shares. Zacks Investment Research raised Ascent Capital Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine upgraded Ascent Capital Group from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Imperial Capital downgraded Ascent Capital Group from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $17.00 to $13.50 in a research note on Friday, August 11th. Piper Jaffray Companies set a $14.00 price target on Ascent Capital Group and gave the stock a “hold” rating in a research note on Thursday, August 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $16.00 target price on shares of Ascent Capital Group in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.33.
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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