Russell Investments Group Ltd. lessened its stake in Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,627 shares of the utilities provider’s stock after selling 17,404 shares during the period. Russell Investments Group Ltd. owned about 0.39% of Alaska Communications Systems Group worth $453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of Alaska Communications Systems Group by 51.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 102,276 shares of the utilities provider’s stock valued at $189,000 after acquiring an additional 34,865 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Alaska Communications Systems Group by 7.2% in the 1st quarter. Bank of New York Mellon Corp now owns 70,473 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 4,747 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Alaska Communications Systems Group by 2.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,783,140 shares of the utilities provider’s stock valued at $3,299,000 after acquiring an additional 37,980 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its stake in shares of Alaska Communications Systems Group by 15.5% in the 1st quarter. Kennedy Capital Management Inc. now owns 426,992 shares of the utilities provider’s stock valued at $790,000 after acquiring an additional 57,308 shares during the last quarter. 41.52% of the stock is owned by institutional investors.

Alaska Communications Systems Group, Inc. (ALSK) traded down 0.45% during midday trading on Thursday, hitting $2.21. The stock had a trading volume of 40,305 shares. Alaska Communications Systems Group, Inc. has a 1-year low of $1.49 and a 1-year high of $2.61. The stock’s 50-day moving average is $2.22 and its 200-day moving average is $2.14. The company’s market capitalization is $115.88 million.

Alaska Communications Systems Group (NASDAQ:ALSK) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.07). Alaska Communications Systems Group had a negative net margin of 0.65% and a negative return on equity of 0.01%. The business had revenue of $58.50 million during the quarter, compared to the consensus estimate of $58.72 million. During the same period in the previous year, the business posted $0.01 EPS. The firm’s revenue was up 3.9% on a year-over-year basis.

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Alaska Communications Systems Group Profile

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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