7.9% Stake of Ascent Capital Group, Inc. (ASCMA) Held by Brigade Capital Management, LP

Brigade Capital Management, LP

stated that they own a 7.9% stake in Ascent Capital Group, Inc. (NASDAQ:ASCMA) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, December 13th. The investor owns 944,876 shares of the stock worth approximately $9,902,300. The reporting parties listed on the disclosure included Brigade Capital Management, LP, Brigade Capital Management GP, LLC, Brigade Leveraged Capital Structures Fund Ltd and Donald E Morgan, III. The filing is available through Edgar at this hyperlink.

A number of other hedge funds also recently made changes to their positions in ASCMA. Vanguard Group Inc. increased its position in Ascent Capital Group by 2.2% during the first quarter. Vanguard Group Inc. now owns 447,733 shares of the industrial products company’s stock worth $6,326,000 after acquiring an additional 9,468 shares during the period. Geode Capital Management LLC increased its position in Ascent Capital Group by 3.9% during the first quarter. Geode Capital Management LLC now owns 89,937 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 3,415 shares during the period. Dimensional Fund Advisors LP increased its position in Ascent Capital Group by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 883,229 shares of the industrial products company’s stock worth $12,480,000 after acquiring an additional 44,391 shares during the period. Schwab Charles Investment Management Inc. increased its position in Ascent Capital Group by 6.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 42,785 shares of the industrial products company’s stock worth $605,000 after acquiring an additional 2,565 shares during the period. Finally, Bank of America Corp DE increased its position in Ascent Capital Group by 25.1% during the first quarter. Bank of America Corp DE now owns 32,238 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 6,475 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $11.00, for a total value of $9,460,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael J. Pohl sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $11.93, for a total transaction of $29,825.00. Following the completion of the sale, the director now owns 17,927 shares in the company, valued at approximately $213,869.11. The disclosure for this sale can be found here. Insiders sold a total of 868,362 shares of company stock worth $9,558,098 in the last 90 days. 9.60% of the stock is owned by corporate insiders.

Ascent Capital Group, Inc. (ASCMA) traded down $0.43 on Wednesday, reaching $10.48. 99,700 shares of the company’s stock were exchanged, compared to its average volume of 51,576. Ascent Capital Group, Inc. has a 1 year low of $8.87 and a 1 year high of $18.31. The company has a debt-to-equity ratio of 11.96, a quick ratio of 1.34 and a current ratio of 1.34.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Ascent Capital Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Stifel Nicolaus reiterated a “hold” rating and set a $16.00 price target on shares of Ascent Capital Group in a research note on Friday, November 3rd. Imperial Capital upgraded shares of Ascent Capital Group from an “in-line” rating to an “outperform” rating and decreased their price target for the stock from $13.50 to $13.00 in a research note on Friday, November 3rd. Finally, ValuEngine upgraded shares of Ascent Capital Group from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. 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. The stock has a consensus rating of “Hold” and an average target price of $14.33.

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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.

Institutional Ownership by Quarter for Ascent Capital Group (NASDAQ:ASCMA)

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