Ascent Capital Group (ASCMA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ascent Capital Group (NASDAQ:ASCMA) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $13.00 target price on the industrial products company’s stock.

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. “

Several other brokerages have also recently issued reports on ASCMA. Imperial Capital raised Ascent Capital Group from an in-line rating to an outperform rating and reduced their target price for the stock from $13.50 to $13.00 in a report on Friday, November 3rd. Stifel Nicolaus reaffirmed a hold rating and issued a $16.00 target price on shares of Ascent Capital Group in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Ascent Capital Group presently has an average rating of Hold and a consensus target price of $14.00.

Shares of Ascent Capital Group (NASDAQ ASCMA) traded up $0.10 during mid-day trading on Tuesday, hitting $11.53. The stock had a trading volume of 72,100 shares, compared to its average volume of 63,567. Ascent Capital Group has a 1 year low of $8.87 and a 1 year high of $17.84. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 11.96. The company has a market capitalization of $140.91, a PE ratio of -1.28 and a beta of 1.59.

In related news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of Ascent Capital Group stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 865,862 shares of company stock valued at $9,528,273. 9.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASCMA. Schwab Charles Investment Management Inc. grew its position in Ascent Capital Group by 82.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 158,329 shares of the industrial products company’s stock worth $2,065,000 after acquiring an additional 71,391 shares in the last quarter. Bank of Nova Scotia purchased a new position in shares of Ascent Capital Group during the second quarter valued at approximately $538,000. Dimensional Fund Advisors LP boosted its position in shares of Ascent Capital Group by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 910,391 shares of the industrial products company’s stock valued at $13,984,000 after buying an additional 27,162 shares during the period. Northern Trust Corp boosted its position in shares of Ascent Capital Group by 17.5% during the second quarter. Northern Trust Corp now owns 133,414 shares of the industrial products company’s stock valued at $2,049,000 after buying an additional 19,918 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in shares of Ascent Capital Group by 2.2% during the third quarter. Gamco Investors INC. ET AL now owns 734,286 shares of the industrial products company’s stock valued at $9,575,000 after buying an additional 16,085 shares during the period. Institutional investors own 80.70% of the company’s stock.

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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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