Bank of New York Mellon Corp raised its position in shares of Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,473 shares of the utilities provider’s stock after buying an additional 4,747 shares during the period. Bank of New York Mellon Corp’s holdings in Alaska Communications Systems Group were worth $130,000 as of its most recent SEC filing.

Separately, Russell Investments Group Ltd. acquired a new stake in Alaska Communications Systems Group during the fourth quarter worth about $368,000. 41.34% of the stock is owned by hedge funds and other institutional investors.

Alaska Communications Systems Group, Inc. (ALSK) traded down 1.35% during midday trading on Friday, reaching $2.19. 93,989 shares of the company were exchanged. Alaska Communications Systems Group, Inc. has a 52 week low of $1.49 and a 52 week high of $2.61. The firm’s 50 day moving average price is $2.23 and its 200-day moving average price is $2.04. The stock’s market capitalization is $114.83 million.

Alaska Communications Systems Group (NASDAQ:ALSK) last announced its earnings results on Thursday, August 3rd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.07. Alaska Communications Systems Group had a negative return on equity of 0.01% and a negative net margin of 0.65%. The business had revenue of $58.50 million for the quarter, compared to analyst estimates of $58.72 million. During the same period last year, the firm earned $0.01 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts forecast that Alaska Communications Systems Group, Inc. will post $0.04 EPS for the current fiscal year.

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Separately, TheStreet raised shares of Alaska Communications Systems Group from a “d+” rating to a “c” rating in a research note on Wednesday, May 3rd.

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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Institutional Ownership by Quarter for Alaska Communications Systems Group (NASDAQ:ALSK)

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