Analysts Set $3.00 Target Price for Ascent Capital Group Inc Series A (ASCMA)

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Ascent Capital Group Inc Series A (NASDAQ:ASCMA) has been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Analysts have set a 1 year consensus price objective of $3.00 for the company and are forecasting that the company will post ($2.91) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ascent Capital Group Inc Series A an industry rank of 96 out of 255 based on the ratings given to its competitors.

Several analysts have recently issued reports on ASCMA shares. ValuEngine cut shares of Ascent Capital Group Inc Series A from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Zacks Investment Research raised shares of Ascent Capital Group Inc Series A from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th.

ASCMA stock traded down $0.01 during mid-day trading on Wednesday, hitting $0.70. 325 shares of the company were exchanged, compared to its average volume of 97,843. The firm has a market cap of $8.25 million, a PE ratio of -0.03 and a beta of 3.02. Ascent Capital Group Inc Series A has a 12-month low of $0.25 and a 12-month high of $4.23.

Ascent Capital Group Inc Series A (NASDAQ:ASCMA) last announced its earnings results on Monday, April 1st. The industrial products company reported ($8.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.13) by ($5.61). The business had revenue of $134.44 million for the quarter. As a group, sell-side analysts anticipate that Ascent Capital Group Inc Series A will post -11.51 EPS for the current fiscal year.

A hedge fund recently raised its stake in Ascent Capital Group Inc Series A stock. Bank of America Corp DE raised its stake in Ascent Capital Group Inc Series A (NASDAQ:ASCMA) by 8,895.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 869,152 shares of the industrial products company’s stock after purchasing an additional 859,490 shares during the period. Bank of America Corp DE owned 6.99% of Ascent Capital Group Inc Series A worth $339,000 as of its most recent SEC filing. 57.35% of the stock is currently owned by institutional investors.

About Ascent Capital Group Inc Series A

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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