Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) VP Michael R. Todd sold 5,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $2.37, for a total transaction of $11,850.00. Following the sale, the vice president now directly owns 224,054 shares of the company’s stock, valued at approximately $531,007.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Alaska Communications Systems Group, Inc. (ALSK) opened at 2.10 on Friday. Alaska Communications Systems Group, Inc. has a 12-month low of $1.49 and a 12-month high of $2.61. The stock’s 50 day moving average is $2.23 and its 200-day moving average is $2.05. The stock’s market cap is $110.11 million.
Alaska Communications Systems Group (NASDAQ:ALSK) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.02 by $0.07. The business had revenue of $58.50 million during the quarter, compared to analysts’ expectations of $58.72 million. Alaska Communications Systems Group had a negative net margin of 0.65% and a negative return on equity of 0.01%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS.
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Several hedge funds have recently modified their holdings of ALSK. Northern Trust Corp boosted its stake in shares of Alaska Communications Systems Group by 2.3% in the second quarter. Northern Trust Corp now owns 131,636 shares of the utilities provider’s stock worth $289,000 after buying an additional 2,952 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Alaska Communications Systems Group by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 70,473 shares of the utilities provider’s stock worth $130,000 after buying an additional 4,747 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Alaska Communications Systems Group by 12.7% in the second quarter. Goldman Sachs Group Inc. now owns 115,243 shares of the utilities provider’s stock worth $254,000 after buying an additional 12,967 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of Alaska Communications Systems Group by 55.8% in the first quarter. Brandes Investment Partners LP now owns 67,331 shares of the utilities provider’s stock worth $125,000 after buying an additional 24,114 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Alaska Communications Systems Group by 2.2% in the first quarter. Renaissance Technologies LLC now owns 1,783,140 shares of the utilities provider’s stock worth $3,299,000 after buying an additional 37,980 shares during the last quarter. Institutional investors and hedge funds own 39.69% of the company’s stock.
Separately, TheStreet lowered shares of Alaska Communications Systems Group from a “c” rating to a “d+” rating in a report on Monday, May 22nd.
Alaska Communications Systems Group Company Profile
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.
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