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.
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.
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