Aegis Financial Corp Lowers stake in Alaska Communications Systems Group Inc (ALSK)

Alaska Communications Systems Group Inc (ALSK) : Aegis Financial Corp reduced its stake in Alaska Communications Systems Group Inc by 15.02% during the most recent quarter end. The investment management company now holds a total of 3,429,949 shares of Alaska Communications Systems Group Inc which is valued at $5,830,913 after selling 606,397 shares in Alaska Communications Systems Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Alaska Communications Systems Group Inc makes up approximately 5.25% of Aegis Financial Corp’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in ALSK in the latest quarter, The investment management firm added 184,700 additional shares and now holds a total of 195,670 shares of Alaska Communications Systems Group Inc which is valued at $332,639. Alaska Communications Systems Group Inc makes up approx 0.02% of Municipal Employees’ Retirement System Of Michigan’s portfolio. Spark Investment Management added ALSK to its portfolio by purchasing 38,100 company shares during the most recent quarter which is valued at $64,770. Alaska Communications Systems Group Inc makes up approx 0.01% of Spark Investment Management’s portfolio.Blackrock Fund Advisors boosted its stake in ALSK in the latest quarter, The investment management firm added 5,473 additional shares and now holds a total of 132,776 shares of Alaska Communications Systems Group Inc which is valued at $225,719.Dimensional Fund Advisors Lp reduced its stake in ALSK by selling 17,751 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 737,311 shares of ALSK which is valued at $1,238,682.

Alaska Communications Systems Group Inc opened for trading at $1.6925 and hit $1.72 on the upside on Thursday, eventually ending the session at $1.7, with a gain of 1.19% or 0.02 points. The heightened volatility saw the trading volume jump to 42,552 shares. Company has a market cap of $87 M.

On the company’s financial health, Alaska Communications Systems Group Inc reported $0.01 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.01. The company had revenue of $56.30 million for the quarter, compared to analysts expectations of $56.81 million. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

Alaska Communications Systems Group Inc. provides integrated communications services to business and consumer customers in Alaska. The Company’s communications network extends throughout the Alaska connecting customers to its network which provides broadband managed information technology (IT) managed services voice and other services to these customers and to the contiguous states through its own terrestrial network which includes its two diverse undersea fiber optic cable systems. The Company provides its products and services under three categories: business and wholesale consumer and other services including access services and high cost support. The Company provides services such as voice and broadband and IT managed services. Its business customers include small and medium businesses larger enterprises and government customers which include municipal local state and federal government entities school districts libraries and rural healthcare hospitals.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *