Zacks: Alaska Communications Systems Group Inc (ALSK) Receives Average Recommendation of “Strong Buy” from Brokerages

Shares of Alaska Communications Systems Group Inc (NASDAQ:ALSK) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports.

Zacks has also assigned Alaska Communications Systems Group an industry rank of 237 out of 265 based on the ratings given to its competitors.

Separately, TheStreet upgraded shares of Alaska Communications Systems Group from a “d+” rating to a “c-” rating in a research note on Friday, January 5th.

Alaska Communications Systems Group (NASDAQ ALSK) traded down $0.07 on Friday, hitting $2.18. The stock had a trading volume of 100,015 shares, compared to its average volume of 115,199. The company has a market capitalization of $114.34, a PE ratio of -109.00 and a beta of -0.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 1.03. Alaska Communications Systems Group has a 52 week low of $1.60 and a 52 week high of $2.91.

Alaska Communications Systems Group (NASDAQ:ALSK) last released its quarterly earnings results on Wednesday, November 8th. The utilities provider reported $0.01 earnings per share for the quarter. The company had revenue of $56.70 million for the quarter. Alaska Communications Systems Group had a negative return on equity of 0.03% and a negative net margin of 0.66%.

In related news, CEO Anand Vadapalli sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $2.72, for a total transaction of $27,200.00. Following the transaction, the chief executive officer now owns 1,345,263 shares in the company, valued at $3,659,115.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 120,000 shares of company stock worth $295,800 in the last quarter. Company insiders own 6.53% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ALSK. Northern Trust Corp increased its stake in shares of Alaska Communications Systems Group by 2.3% during the second quarter. Northern Trust Corp now owns 131,636 shares of the utilities provider’s stock valued at $289,000 after acquiring an additional 2,952 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alaska Communications Systems Group by 31.2% during the second quarter. Dimensional Fund Advisors LP now owns 942,355 shares of the utilities provider’s stock valued at $2,073,000 after acquiring an additional 224,004 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Alaska Communications Systems Group by 12.7% during the second quarter. Goldman Sachs Group Inc. now owns 115,243 shares of the utilities provider’s stock valued at $254,000 after acquiring an additional 12,967 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new position in Alaska Communications Systems Group in the third quarter worth approximately $3,274,000. Finally, Macquarie Group Ltd. acquired a new position in Alaska Communications Systems Group in the third quarter worth approximately $369,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

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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.

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