Zacks Investment Research Lowers Ascent Capital Group (ASCMA) to Hold

Zacks Investment Research lowered shares of Ascent Capital Group (NASDAQ:ASCMA) from a buy rating to a hold rating in a research report report published on Thursday morning.

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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Several other brokerages have also recently weighed in on ASCMA. ValuEngine cut Ascent Capital Group from a sell rating to a strong sell rating in a report on Monday, February 5th. Imperial Capital reiterated an outperform rating and issued a $10.00 target price (down from $13.00) on shares of Ascent Capital Group in a report on Tuesday, March 6th. Finally, Stifel Nicolaus reduced their price target on Ascent Capital Group from $13.00 to $11.00 and set a hold rating for the company in a research report on Thursday, March 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Ascent Capital Group currently has a consensus rating of Hold and an average target price of $9.69.

Shares of ASCMA stock opened at $3.76 on Thursday. Ascent Capital Group has a twelve month low of $3.30 and a twelve month high of $17.84. The firm has a market capitalization of $46.55, a price-to-earnings ratio of -0.43 and a beta of 1.81. The company has a debt-to-equity ratio of 12.46, a current ratio of 1.38 and a quick ratio of 1.38.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASCMA. State Street Corp raised its position in shares of 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 acquiring an additional 6,682 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Ascent Capital Group by 82.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 158,329 shares of the industrial products company’s stock valued at $2,065,000 after buying an additional 71,391 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Ascent Capital Group by 1,894.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 10,392 shares of the industrial products company’s stock valued at $119,000 after buying an additional 9,871 shares in the last quarter. Deutsche Bank AG increased its position in Ascent Capital Group by 137.1% during the 4th quarter. Deutsche Bank AG now owns 24,851 shares of the industrial products company’s stock valued at $284,000 after buying an additional 14,371 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in Ascent Capital Group during the 4th quarter valued at about $163,000. 83.29% of the stock is owned by hedge funds and other institutional investors.

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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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