TheStreet cut shares of Alaska Communications Systems Group (NASDAQ:ALSK) from a c- rating to a d+ rating in a research note issued to investors on Tuesday morning.
Shares of Alaska Communications Systems Group (NASDAQ ALSK) opened at $2.19 on Tuesday. Alaska Communications Systems Group has a 12-month low of $1.60 and a 12-month high of $2.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.03 and a quick ratio of 0.94. The company has a market cap of $113.29, a PE ratio of -109.50 and a beta of -0.25.
In other news, CEO Anand Vadapalli sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $2.56, for a total value of $25,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,315,263 shares of the company’s stock, valued at approximately $3,367,073.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 120,000 shares of company stock valued at $295,800. Corporate insiders own 6.53% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Alaska Communications Systems Group by 61.9% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 2,335,308 shares of the utilities provider’s stock worth $6,259,000 after purchasing an additional 893,039 shares during the period. Renaissance Technologies LLC lifted its position in Alaska Communications Systems Group by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 2,330,740 shares of the utilities provider’s stock valued at $6,246,000 after acquiring an additional 28,811 shares during the period. Dimensional Fund Advisors LP lifted its position in Alaska Communications Systems Group by 22.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,149,307 shares of the utilities provider’s stock valued at $2,609,000 after acquiring an additional 206,952 shares during the period. Macquarie Group Ltd. purchased a new position in Alaska Communications Systems Group during the 3rd quarter valued at about $369,000. Finally, Northern Trust Corp lifted its position 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 acquiring an additional 2,952 shares during the period. 45.89% of the stock is owned by hedge funds and other institutional investors.
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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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