Shares of Alaska Communications (NASDAQ:ALSK) were up 0.6% on Thursday following a stronger than expected earnings report. The stock traded as high as $1.80 and last traded at $1.68. Approximately 45,188 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 138,294 shares. The stock had previously closed at $1.67.
The utilities provider reported ($0.06) earnings per share (EPS) for the quarter. Alaska Communications had a negative net margin of 2.69% and a negative return on equity of 2.96%. The company had revenue of $54.94 million for the quarter.
Separately, TheStreet lowered shares of Alaska Communications from a “c-” rating to a “d+” rating in a report on Tuesday, February 13th.
Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its holdings in shares of Alaska Communications 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 in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Alaska Communications by 160.8% during the 4th quarter. Wells Fargo & Company MN now owns 48,662 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 30,003 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Alaska Communications by 14.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,596,895 shares of the utilities provider’s stock valued at $2,874,000 after acquiring an additional 205,018 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Alaska Communications by 61.9% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 2,335,308 shares of the utilities provider’s stock valued at $6,259,000 after acquiring an additional 893,039 shares in the last quarter. Institutional investors and hedge funds own 43.74% of the company’s stock.
The company has a quick ratio of 0.96, a current ratio of 1.08 and a debt-to-equity ratio of 1.09.
About Alaska Communications
Alaska Communications Systems Group, Inc, through its subsidiaries, provides broadband telecommunication and managed information technology services to business, wholesale, and consumer customers in the state of Alaska. 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.
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