Zacks Investment Research Upgrades Ascent Capital Group (ASCMA) to Buy

Zacks Investment Research upgraded shares of Ascent Capital Group (NASDAQ:ASCMA) from a hold rating to a buy rating in a research report released on Wednesday morning. The firm currently has $3.75 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. “

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ASCMA has been the topic of several other research reports. Stifel Nicolaus dropped their price objective on shares of Ascent Capital Group from $13.00 to $11.00 and set a hold rating on the stock in a report on Thursday, March 15th. ValuEngine upgraded shares of Ascent Capital Group from a strong sell rating to a sell rating in a report on Thursday, March 15th. Finally, Imperial Capital restated an outperform rating and issued a $10.00 target price (down previously from $13.00) on shares of Ascent Capital Group in a report on Tuesday, March 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $9.69.

Shares of NASDAQ ASCMA opened at $3.76 on Wednesday. Ascent Capital Group has a 1-year low of $3.30 and a 1-year high of $17.84. The company has a debt-to-equity ratio of 12.46, a quick ratio of 1.38 and a current ratio of 1.38.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. grew its position in Ascent Capital Group by 45.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 230,541 shares of the industrial products company’s stock worth $2,649,000 after purchasing an additional 72,212 shares in the last quarter. State Street Corp grew its position in Ascent Capital Group by 3.0% in the 2nd quarter. State Street Corp now owns 228,283 shares of the industrial products company’s stock worth $3,504,000 after purchasing an additional 6,682 shares in the last quarter. Two Sigma Investments LP bought a new stake in Ascent Capital Group in the 4th quarter worth about $630,000. Deutsche Bank AG grew its position in Ascent Capital Group by 137.1% in the 4th quarter. Deutsche Bank AG now owns 24,851 shares of the industrial products company’s stock worth $284,000 after purchasing an additional 14,371 shares in the last quarter. Finally, Stone Ridge Asset Management LLC bought a new stake in Ascent Capital Group in the 4th quarter worth about $163,000. Institutional investors own 83.29% of the company’s stock.

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Ascent Capital Group Company Profile

Ascent Capital Group, Inc, through its subsidiary, Monitronics International, Inc, provides security alarm monitoring services to residential and commercial customers in the United States, Canada, the District of Columbia, and Puerto Rico. The company provides monitoring services for alarm signals arising from burglaries, fires, medical alerts, and other events through security systems at customers' premises.

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