Ascent Capital Group Inc Series A (NASDAQ:ASCMA) Share Price Passes Above 200-Day Moving Average of $0.81

Shares of Ascent Capital Group Inc Series A (NASDAQ:ASCMA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.81 and traded as high as $0.85. Ascent Capital Group Inc Series A shares last traded at $0.85, with a volume of 0 shares.

Separately, ValuEngine downgraded shares of Ascent Capital Group Inc Series A from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

The firm’s 50-day moving average is $0.85 and its 200 day moving average is $0.81. The stock has a market cap of $10.62 million, a price-to-earnings ratio of -0.04 and a beta of 1.65.

Hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC raised its position in Ascent Capital Group Inc Series A by 170.0% during the second quarter. Gabelli Funds LLC now owns 35,100 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 22,100 shares in the last quarter. AEGON USA Investment Management LLC raised its holdings in shares of Ascent Capital Group Inc Series A by 27.1% in the second quarter. AEGON USA Investment Management LLC now owns 482,709 shares of the industrial products company’s stock valued at $521,000 after buying an additional 103,020 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Ascent Capital Group Inc Series A by 8,895.6% during the 4th quarter. Bank of America Corp DE now owns 869,152 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 859,490 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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: Hold Rating

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