Published on 22 Nov 2020 on Insider Monkey via Yahoo Finance

Is ALSK A Good Stock To Buy Now?

Although the masses and most of the financial media blame hedge funds for their exorbitant fee structure and disappointing performance, these investors have proved to have great stock picking abilities over the years (that's why their assets under management continue to swell). We believe hedge fund sentiment should serve as a crucial tool of an individual investor’s stock selection process, as it may offer great insights of how the brightest minds of the finance industry feel about specific stocks. After all, these people have access to smartest analysts and expensive data/information sources that individual investors can't match. So should one consider investing in Alaska Communications Systems Group Inc (NASDAQ:ALSK)? The smart money sentiment can provide an answer to this question.

Is ALSK a good stock to buy now? Hedge funds were getting more optimistic. The number of long hedge fund positions inched up by 3 lately. Alaska Communications Systems Group Inc (NASDAQ:ALSK) was in 9 hedge funds' portfolios at the end of the third quarter of 2020. The all time high for this statistics is 8. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that ALSK isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video for a quick look at the top 5 stocks).