Alaska Communications Systems Group (ALSK) Downgraded to “D+” at TheStreet

Alaska Communications Systems Group (NASDAQ:ALSK) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Tuesday, February 13th.

Shares of Alaska Communications Systems Group (ALSK) opened at $2.16 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 1.09. Alaska Communications Systems Group has a 12 month low of $1.60 and a 12 month high of $2.91. The stock has a market capitalization of $113.81, a P/E ratio of -108.00 and a beta of -0.25.

In other Alaska Communications Systems Group news, CEO Anand Vadapalli sold 10,000 shares of Alaska Communications Systems Group stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $2.72, for a total value of $27,200.00. Following the sale, the chief executive officer now owns 1,345,263 shares of the company’s stock, valued at approximately $3,659,115.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 130,000 shares of company stock worth $317,400. Corporate insiders own 6.53% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in shares of Alaska Communications Systems Group by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,330,740 shares of the utilities provider’s stock worth $6,246,000 after purchasing an additional 28,811 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Alaska Communications Systems Group by 160.8% in the 4th quarter. Wells Fargo & Company MN now owns 48,662 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 30,003 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its holdings 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. Dimensional Fund Advisors LP boosted its holdings in shares of Alaska Communications Systems Group by 22.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,149,307 shares of the utilities provider’s stock worth $2,609,000 after purchasing an additional 206,952 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of Alaska Communications Systems Group in the 3rd quarter worth approximately $369,000. Hedge funds and other institutional investors own 46.32% 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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