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Ascent Capital Group Inc. (ASCMA): Billionaire Mario Gabelli’s GAMCO Investors Lowers Its Stake

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As per a new 13D filing with the SEC, billionaire Mario Gabelli‘s GAMCO Investors‘ stake in Ascent Capital Group Inc. (NASDAQ:ASCMA) has been lowered, as the fund, together with its affiliates, holds 1.33 million Series A shares, which amass 11.10% of the float. Out of the aggregate amount, GAMCO solely owns 868,272 Series A shares or 7.27% of the company’s outstanding stock, compared to its previous stake in the company which consisted of 933,568 shares, according to GAMCO’s 13F filing for the end-of-June reporting period.

Ascent Capital Group is a holding company that operates in these sectors: LiveWatch, Monitronics, and Other Activities. Year-to-date, the company’s stock is up by 26.67%. For the second quarter of 2016, the company reported a loss per share from continuing operations of $1.80 and revenue of $143.66 million, compared to a loss per share of $1.41 and revenue of $141.54 million for the same quarter of the prior year.

 

Mario Gabelli

Out of the 749 investors tracked by Insider Monkey which filed 13Fs for the June quarter, 12 smart money managers were bullish on Ascent Capital Group (NASDAQ:ASCMA), up by three from the previous reporting period. Among smart money managers who reported long positions in the company were Ahmet Okumus’ Okumus Fund Management, with a position valued at $19.85 million, Jim Simons’ Renaissance Technologies, which held a position worth around $10.25 million, Don Morgan’s Brigade Capital, and Gavin Saitowitz and Cisco J. Del Valle’s Springbok Capital.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Gabelli Funds 192,500 192,500 192,500 1.61%
GAMCO Asset Management Inc. I.D. No. 13-40445 694,445 868,272 868,272 7.27%
Teton Advisors, Inc. I.D. No. 13-4008049 264,900 264,900 264,900 2.22%
GGCP, Inc. I.D. No. 13-3056041 0.00%
GAMCO Investors, Inc. I.D. No. 13-400786 0.00%
Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) 0.00%
Mario J. Gabelli 456 456 456 0.00%

Mario Gabelli
Mario Gabelli
GAMCO Investors

Page 1 of 16 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934 (Amendment No. 20)
Ascent Capital Group, Inc.
(Name of Issuer)
Series A Common Stock
(Title of Class of Securities)
                                                                                                ________043632108_________
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
______________________ September 21, 2016________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

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