Ascent Capital Group Inc Series A (ASCMA) Sees Strong Trading Volume

Shares of Ascent Capital Group Inc Series A (NASDAQ:ASCMA) saw strong trading volume on Wednesday . 10,803,919 shares were traded during mid-day trading, an increase of 4,921% from the previous session’s volume of 215,181 shares.The stock last traded at $1.37 and had previously closed at $0.91.

Separately, ValuEngine cut Ascent Capital Group Inc Series A from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.

The company has a market cap of $15.34 million, a P/E ratio of -0.06 and a beta of 2.97.

Ascent Capital Group Inc Series A (NASDAQ:ASCMA) last announced its quarterly earnings data on Monday, April 1st. The industrial products company reported ($8.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($3.13) by ($5.61). The firm had revenue of $134.44 million during the quarter. As a group, research analysts expect that Ascent Capital Group Inc Series A will post -11.51 EPS for the current year.

An institutional investor recently raised its position in Ascent Capital Group Inc Series A stock. Bank of America Corp DE grew its stake in shares of Ascent Capital Group Inc Series A (NASDAQ:ASCMA) by 8,895.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 869,152 shares of the industrial products company’s stock after buying an additional 859,490 shares during the quarter. Bank of America Corp DE owned 6.99% of Ascent Capital Group Inc Series A worth $339,000 at the end of the most recent quarter. Institutional investors and hedge funds own 51.96% of the company’s stock.

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Ascent Capital Group Inc Series A Company Profile (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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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