Short Interest in Alaska Communications Systems Group Inc (NASDAQ:ALSK) Grows By 121.8%
Alaska Communications Systems Group Inc (NASDAQ:ALSK) was the target of a large growth in short interest in March. As of March 13th, there was short interest totalling 29,500 shares, a growth of 121.8% from the February 27th total of 13,300 shares. Based on an average daily trading volume, of 140,300 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.
A hedge fund recently raised its stake in Alaska Communications Systems Group stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Alaska Communications Systems Group Inc (NASDAQ:ALSK) by 18.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,902 shares of the utilities provider’s stock after acquiring an additional 10,667 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Alaska Communications Systems Group worth $122,000 at the end of the most recent quarter. Institutional investors and hedge funds own 35.98% of the company’s stock.
ALSK stock traded up $0.06 during trading on Thursday, reaching $1.66. The company’s stock had a trading volume of 191,352 shares, compared to its average volume of 175,121. The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 1.42. The company’s fifty day moving average is $1.93 and its 200-day moving average is $1.81. The company has a market capitalization of $83.87 million, a P/E ratio of 18.56 and a beta of 0.79. Alaska Communications Systems Group has a 1 year low of $1.44 and a 1 year high of $2.28.
The business also recently disclosed an annual dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, April 20th will be given a dividend of $0.09 per share. This represents a dividend yield of 5.06%. The ex-dividend date is Friday, April 17th.
Alaska Communications Systems Group Company Profile
Alaska Communications Systems Group, Inc, through its subsidiaries, provides broadband telecommunication and managed information technology services to business, wholesale, and consumer customers in the United States. Its services include voice and broadband services; and managed IT services comprising remote network monitoring and support service, managed IT security and IT professional services, and long distance services primarily over its own terrestrial network to business and wholesale customers.
Recommended Story: Why Invest in High-Yield Dividend Stocks?
Receive News & Ratings for Alaska Communications Systems Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Communications Systems Group and related companies with MarketBeat.com's FREE daily email newsletter.