Gabelli Funds LLC Has $1.25 Million Position in Ascent Capital Group Inc (ASCMA)

Gabelli Funds LLC reduced its stake in Ascent Capital Group Inc (NASDAQ:ASCMA) by 13.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 108,500 shares of the industrial products company’s stock after selling 17,009 shares during the quarter. Gabelli Funds LLC’s holdings in Ascent Capital Group were worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASCMA. Teachers Advisors LLC raised its position in Ascent Capital Group by 14.2% in the 2nd quarter. Teachers Advisors LLC now owns 23,260 shares of the industrial products company’s stock valued at $357,000 after buying an additional 2,892 shares during the last quarter. Bank of Nova Scotia purchased a new stake in Ascent Capital Group in the 2nd quarter valued at $538,000. Bank of New York Mellon Corp raised its position in Ascent Capital Group by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 56,060 shares of the industrial products company’s stock valued at $862,000 after buying an additional 687 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Ascent Capital Group by 103.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 86,938 shares of the industrial products company’s stock valued at $1,336,000 after buying an additional 44,153 shares during the last quarter. Finally, Northern Trust Corp raised its position in Ascent Capital Group by 17.5% in the 2nd quarter. Northern Trust Corp now owns 133,414 shares of the industrial products company’s stock valued at $2,049,000 after buying an additional 19,918 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Ascent Capital Group Inc (NASDAQ:ASCMA) opened at $6.34 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 11.96. Ascent Capital Group Inc has a 12 month low of $6.22 and a 12 month high of $17.84.

A number of brokerages have issued reports on ASCMA. Imperial Capital upgraded Ascent Capital Group from an “in-line” rating to an “outperform” rating and reduced their price objective for the company from $13.50 to $13.00 in a research note on Friday, November 3rd. Stifel Nicolaus restated a “hold” rating and issued a $16.00 price objective on shares of Ascent Capital Group in a research note on Friday, November 3rd. Zacks Investment Research upgraded Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, ValuEngine downgraded Ascent Capital Group from a “sell” rating to a “strong sell” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.00.

In other news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $11.00, for a total transaction of $9,460,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 863,908 shares of company stock valued at $9,505,606 in the last 90 days. Corporate insiders own 9.60% of the company’s stock.

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Ascent Capital Group Profile

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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Institutional Ownership by Quarter for Ascent Capital Group (NASDAQ:ASCMA)

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