Shares of Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price target of $2.90 for the company, according to Zacks. Zacks has also given Alaska Communications Systems Group an industry rank of 233 out of 265 based on the ratings given to related companies.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in Alaska Communications Systems Group by 7.2% during the 1st quarter. Bank of New York Mellon Corp now owns 70,473 shares of the utilities provider’s stock valued at $130,000 after purchasing an additional 4,747 shares during the period. Goldman Sachs Group Inc. boosted its stake in Alaska Communications Systems Group by 51.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 102,276 shares of the utilities provider’s stock valued at $189,000 after purchasing an additional 34,865 shares during the period. Northern Trust Corp boosted its stake in Alaska Communications Systems Group by 2.3% during the 2nd quarter. Northern Trust Corp now owns 131,636 shares of the utilities provider’s stock valued at $289,000 after purchasing an additional 2,952 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in Alaska Communications Systems Group during the 2nd quarter valued at about $392,000. Finally, Kennedy Capital Management Inc. boosted its stake in Alaska Communications Systems Group by 15.5% during the 1st quarter. Kennedy Capital Management Inc. now owns 426,992 shares of the utilities provider’s stock valued at $790,000 after purchasing an additional 57,308 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.

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Shares of Alaska Communications Systems Group (NASDAQ:ALSK) traded down 0.43% during midday trading on Monday, hitting $2.31. 128,494 shares of the stock traded hands. The firm has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.22. The stock’s market cap is $121.12 million. Alaska Communications Systems Group has a one year low of $1.49 and a one year high of $2.61.

Alaska Communications Systems Group (NASDAQ:ALSK) last posted its earnings results on Thursday, August 3rd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.07). The firm had revenue of $58.50 million for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 earnings per share.

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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