Short Interest in Ascent Capital Group Inc Series A (NASDAQ:ASCMA) Declines By 13.9%

Ascent Capital Group Inc Series A (NASDAQ:ASCMA) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 422,300 shares, a drop of 13.9% from the May 30th total of 490,200 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily volume of 259,500 shares, the days-to-cover ratio is presently 1.6 days.

Shares of ASCMA opened at $0.85 on Friday. The business has a 50-day moving average price of $1.15. Ascent Capital Group Inc Series A has a fifty-two week low of $0.25 and a fifty-two week high of $4.00. The stock has a market cap of $11.60 million, a price-to-earnings ratio of -0.04 and a beta of 1.65.

Ascent Capital Group Inc Series A (NASDAQ:ASCMA) last announced its quarterly earnings data on Tuesday, May 14th. The industrial products company reported ($2.24) earnings per share for the quarter, topping the consensus estimate of ($2.91) by $0.67. The firm had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $114.93 million. Sell-side analysts expect that Ascent Capital Group Inc Series A will post -11.15 EPS for the current fiscal year.

An institutional investor recently raised its position in Ascent Capital Group Inc Series A stock. Bank of America Corp DE raised its stake in shares of Ascent Capital Group Inc Series A (NASDAQ:ASCMA) by 8,895.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 about 6.99% of Ascent Capital Group Inc Series A worth $339,000 at the end of the most recent reporting period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Separately, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Ascent Capital Group Inc Series A Company Profile

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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