Analysts predict that Ascent Capital Group Inc (NASDAQ:ASCMA) will report $137.52 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Ascent Capital Group’s earnings, with estimates ranging from $135.76 million to $139.28 million. Ascent Capital Group reported sales of $140.68 million in the same quarter last year, which indicates a negative year over year growth rate of 2.2%. The business is scheduled to issue its next earnings results on Tuesday, February 27th.
On average, analysts expect that Ascent Capital Group will report full year sales of $137.52 million for the current year, with estimates ranging from $555.70 million to $559.19 million. For the next fiscal year, analysts expect that the firm will report sales of $549.92 million per share, with estimates ranging from $539.31 million to $560.53 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Ascent Capital Group.
Several brokerages recently commented on ASCMA. ValuEngine cut Ascent Capital Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 5th. Zacks Investment Research upgraded Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, January 2nd. Imperial Capital upgraded Ascent Capital Group from an “in-line” rating to an “outperform” rating and reduced their target price for the company from $13.50 to $13.00 in a report on Friday, November 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 target price on shares of Ascent Capital Group in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $14.00.
In other Ascent Capital Group news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $11.00, for a total value of $9,460,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 863,908 shares of company stock worth $9,505,606 over the last quarter. 9.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its position in shares of Ascent Capital Group by 1,894.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,392 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 9,871 shares during the period. Stone Ridge Asset Management LLC acquired a new position in shares of Ascent Capital Group during the fourth quarter worth approximately $163,000. Deutsche Bank AG raised its position in shares of Ascent Capital Group by 137.1% during the fourth 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 during the period. Teachers Advisors LLC raised its position in shares of Ascent Capital Group by 14.2% during the second quarter. Teachers Advisors LLC now owns 23,260 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 2,892 shares during the period. Finally, Bank of Nova Scotia acquired a new position in shares of Ascent Capital Group during the second quarter worth approximately $538,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ascent Capital Group (NASDAQ ASCMA) traded up $0.18 during mid-day trading on Monday, reaching $6.63. The company had a trading volume of 50,700 shares, compared to its average volume of 55,755. Ascent Capital Group has a 1-year low of $6.22 and a 1-year high of $17.84. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 11.96.
About Ascent Capital Group
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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