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. “
Several other research firms have also recently commented on ASCMA. BB&T Corp. initiated coverage on shares of Ascent Capital Group in a research note on Thursday, June 16th. They set a hold rating on the stock. Imperial Capital raised their target price on shares of Ascent Capital Group from $20.00 to $21.00 and gave the company a hold rating in a research note on Thursday, August 11th.
Ascent Capital Group (NASDAQ:ASCMA) opened at 22.28 on Tuesday. The stock’s market cap is $275.47 million. The company’s 50 day moving average is $22.46 and its 200 day moving average is $18.32. Ascent Capital Group has a 52 week low of $7.77 and a 52 week high of $29.40.
In other Ascent Capital Group news, VP William E. Niles sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $16.85, for a total value of $25,275.00. Following the completion of the transaction, the vice president now directly owns 63,408 shares in the company, valued at $1,068,424.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.65% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Brigade Capital Management LP bought a new stake in Ascent Capital Group during the first quarter valued at approximately $8,727,000. Geode Capital Management LLC boosted its stake in Ascent Capital Group by 9.4% in the first quarter. Geode Capital Management LLC now owns 90,179 shares of the company’s stock valued at $1,334,000 after buying an additional 7,757 shares in the last quarter. California Public Employees Retirement System boosted its stake in Ascent Capital Group by 15.2% in the second quarter. California Public Employees Retirement System now owns 104,400 shares of the company’s stock valued at $1,607,000 after buying an additional 13,800 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ascent Capital Group by 98.9% in the first quarter. JPMorgan Chase & Co. now owns 475,518 shares of the company’s stock valued at $7,042,000 after buying an additional 236,445 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Ascent Capital Group during the second quarter valued at approximately $278,000. Institutional investors and hedge funds own 84.46% of the company’s stock.
About Ascent Capital Group
Ascent Capital Group, Inc is a holding company. The Company’s segments include Monitronics, LiveWatch and Other Activities. The Company’s subsidiaries include Monitronics International, Inc (Monitronics) and LiveWatch Security, LLC (LiveWatch). Monitronics provides a range of residential security services, including hands-free two-way interactive voice communication with the monitoring center, cellular options, and an interactive service option, which allows the customer to control their security system remotely using a computer or smart phone.
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