Michael R. Todd Sells 5,000 Shares of Alaska Communications Systems Group, Inc. (ALSK) Stock

Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) VP Michael R. Todd sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $2.15, for a total value of $10,750.00. Following the completion of the transaction, the vice president now directly owns 239,054 shares in the company, valued at $513,966.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Alaska Communications Systems Group, Inc. (ALSK) traded up 0.42% during midday trading on Friday, hitting $2.38. The company had a trading volume of 29,757 shares. Alaska Communications Systems Group, Inc. has a one year low of $1.49 and a one year high of $2.61. The company has a market cap of $124.57 million, a P/E ratio of 74.38 and a beta of -0.12. The company’s 50 day moving average is $2.19 and its 200-day moving average is $1.97.

Alaska Communications Systems Group (NASDAQ:ALSK) last released its earnings results on Thursday, May 4th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $56.73 million for the quarter, compared to analyst estimates of $57.02 million. Alaska Communications Systems Group had a return on equity of 1.97% and a net margin of 0.71%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts predict that Alaska Communications Systems Group, Inc. will post $0.04 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of Alaska Communications Systems Group during the fourth quarter worth approximately $368,000. Renaissance Technologies LLC increased its stake in shares of Alaska Communications Systems Group by 13.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,745,160 shares of the utilities provider’s stock worth $2,862,000 after buying an additional 205,720 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Alaska Communications Systems Group by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 1,215,600 shares of the utilities provider’s stock worth $1,994,000 after buying an additional 65,600 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Alaska Communications Systems Group by 15.5% in the first quarter. Kennedy Capital Management Inc. now owns 426,992 shares of the utilities provider’s stock worth $790,000 after buying an additional 57,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Alaska Communications Systems Group by 51.7% in the first quarter. Goldman Sachs Group Inc. now owns 102,276 shares of the utilities provider’s stock worth $189,000 after buying an additional 34,865 shares in the last quarter. Institutional investors own 41.25% of the company’s stock.

Separately, TheStreet raised Alaska Communications Systems Group from a “d+” rating to a “c” rating in a research report on Wednesday, May 3rd.

About Alaska Communications Systems Group

Alaska Communications Systems Group, Inc is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers across Alaska. The Company’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system.