Ascent Capital Group, Inc. (NASDAQ:ASCMA) Reaches New 12-Month Low at $11.47

Shares of Ascent Capital Group, Inc. (NASDAQ:ASCMA) reached a new 52-week low on Friday . The company traded as low as $11.47 and last traded at $11.48, with a volume of 41,283 shares traded. The stock had previously closed at $12.17.

ASCMA has been the subject of a number of recent analyst reports. Piper Jaffray Companies set a $14.00 price target on shares of Ascent Capital Group and gave the stock a “hold” rating in a research report on Thursday. Imperial Capital raised their price target on shares of Ascent Capital Group from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, July 6th. Zacks Investment Research downgraded shares of Ascent Capital Group from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Finally, ValuEngine downgraded shares of Ascent Capital Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 7th.

The firm’s market capitalization is $141.27 million. The company has a 50-day moving average price of $16.09 and a 200-day moving average price of $14.93.

Ascent Capital Group (NASDAQ:ASCMA) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.90) by $1.68. The firm had revenue of $140.50 million for the quarter, compared to the consensus estimate of $142.68 million. Ascent Capital Group had a negative net margin of 19.15% and a negative return on equity of 46.93%. On average, analysts forecast that Ascent Capital Group, Inc. will post ($7.24) EPS for the current year.

In other news, major shareholder Opportunistic Value Fun Okumus sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $17.00, for a total transaction of $2,550,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Okumus Fund Management Ltd. sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $17.11, for a total value of $34,220.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,600 shares of company stock worth $2,697,278. 8.65% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Ascent Capital Group by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 838,838 shares of the industrial products company’s stock worth $13,640,000 after buying an additional 51,428 shares in the last quarter. Teachers Advisors LLC boosted its stake in Ascent Capital Group by 21.7% in the fourth quarter. Teachers Advisors LLC now owns 21,381 shares of the industrial products company’s stock worth $348,000 after buying an additional 3,808 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Ascent Capital Group by 4.5% in the first quarter. Parametric Portfolio Associates LLC now owns 59,736 shares of the industrial products company’s stock worth $844,000 after buying an additional 2,546 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Ascent Capital Group by 1.1% in the first quarter. Renaissance Technologies LLC now owns 903,200 shares of the industrial products company’s stock worth $12,762,000 after buying an additional 9,800 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Ascent Capital Group during the first quarter worth about $123,000. Institutional investors and hedge funds own 82.33% 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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