Ascent Capital Group Inc (NASDAQ:ASCMA) Announces Quarterly Earnings Results

Ascent Capital Group Inc (NASDAQ:ASCMA) posted its earnings results on Wednesday. The industrial products company reported ($3.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.90) by $1.68, Morningstar.com reports. Ascent Capital Group had a negative net margin of 13.42% and a negative return on equity of 32.94%. The company had revenue of $140.50 million for the quarter, compared to the consensus estimate of $142.68 million.

Shares of Ascent Capital Group (NASDAQ:ASCMA) traded down 22.16% during midday trading on Thursday, hitting $11.98. The stock had a trading volume of 65,932 shares. The firm’s market capitalization is $145.37 million. The company’s 50 day moving average price is $16.26 and its 200-day moving average price is $14.98. Ascent Capital Group has a 1-year low of $11.55 and a 1-year high of $26.16.

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In other news, major shareholder Okumus Fund Management Ltd. sold 2,000 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $17.11, for a total value of $34,220.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Opportunistic Value Fun Okumus sold 6,600 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $17.13, for a total transaction of $113,058.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,600 shares of company stock worth $2,697,278. 8.65% of the stock is owned by insiders.

Several large investors have recently modified their holdings of ASCMA. Massachusetts Financial Services Co. MA raised its position in shares of Ascent Capital Group by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 38,385 shares of the industrial products company’s stock worth $542,000 after buying an additional 456 shares during the period. Bank of New York Mellon Corp raised its position 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 buying an additional 687 shares during the period. Strs Ohio raised its position in shares of Ascent Capital Group by 1.7% in the second quarter. Strs Ohio now owns 41,000 shares of the industrial products company’s stock worth $629,000 after buying an additional 700 shares during the period. State Street Corp raised its position in shares of Ascent Capital Group by 0.7% in the fourth quarter. State Street Corp now owns 223,562 shares of the industrial products company’s stock worth $3,640,000 after buying an additional 1,545 shares during the period. Finally, First Manhattan Co. raised its position in shares of Ascent Capital Group by 14.5% in the first quarter. First Manhattan Co. now owns 14,566 shares of the industrial products company’s stock worth $337,000 after buying an additional 1,842 shares during the period. 82.33% of the stock is currently owned by institutional investors.

ASCMA has been the topic of several recent research reports. Piper Jaffray Companies set a $14.00 target price on Ascent Capital Group and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research upgraded Ascent Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Imperial Capital cut their target price on Ascent Capital Group from $21.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, May 11th. Finally, ValuEngine lowered Ascent Capital Group from a “sell” rating to a “strong sell” rating in a report on Monday.

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.

Earnings History for Ascent Capital Group (NASDAQ:ASCMA)

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