Ascent Capital Group Inc Series A (NASDAQ:ASCMA) Stock Price Down 11.5%

Shares of Ascent Capital Group Inc Series A (NASDAQ:ASCMA) were down 11.5% during trading on Thursday . The company traded as low as $0.83 and last traded at $0.85, approximately 571,092 shares changed hands during trading. An increase of 200% from the average daily volume of 190,114 shares. The stock had previously closed at $0.96.

Separately, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

The firm has a market cap of $11.60 million, a PE ratio of -0.04 and a beta of 1.65. The stock has a 50-day moving average price of $1.15.

Ascent Capital Group Inc Series A (NASDAQ:ASCMA) last posted its quarterly earnings results on Tuesday, May 14th. The industrial products company reported ($2.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.91) by $0.67. The business had revenue of $129.61 million for the quarter, compared to analyst estimates of $114.93 million. As a group, sell-side analysts predict that Ascent Capital Group Inc Series A will post -11.15 earnings per share for the current year.

A hedge fund recently raised its stake in Ascent Capital Group Inc Series A stock. Bank of America Corp DE raised its position in Ascent Capital Group Inc Series A (NASDAQ:ASCMA) by 8,895.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 869,152 shares of the industrial products company’s stock after purchasing an additional 859,490 shares during the quarter. Bank of America Corp DE owned about 6.99% of Ascent Capital Group Inc Series A worth $339,000 as of its most recent SEC filing. 52.70% of the stock is owned by hedge funds and other institutional investors.

About Ascent Capital Group Inc Series A (NASDAQ:ASCMA)

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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