Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet bought 25,778 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were acquired at an average cost of $14.11 per share, for a total transaction of $363,727.58. Following the purchase, the insider now directly owns 676,196 shares in the company, valued at approximately $9,541,125.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Ira Sochet also recently made the following trade(s):
- On Monday, February 5th, Ira Sochet bought 1,678 shares of Otelco stock. The shares were acquired at an average cost of $14.13 per share, for a total transaction of $23,710.14.
- On Tuesday, November 21st, Ira Sochet acquired 287,366 shares of Otelco stock. The stock was purchased at an average cost of $11.95 per share, for a total transaction of $3,434,023.70.
- On Monday, November 27th, Ira Sochet acquired 289,076 shares of Otelco stock. The stock was purchased at an average cost of $11.94 per share, for a total transaction of $3,451,567.44.
Shares of Otelco Inc (OTEL) opened at $15.40 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.73 and a debt-to-equity ratio of -13.79. Otelco Inc has a 12 month low of $6.00 and a 12 month high of $17.75. The stock has a market capitalization of $51.53, a P/E ratio of 9.33 and a beta of 0.56.
Large investors have recently added to or reduced their stakes in the business. Wedbush Securities Inc. increased its stake in Otelco by 4.1% in the 4th quarter. Wedbush Securities Inc. now owns 126,993 shares of the technology company’s stock worth $1,695,000 after acquiring an additional 5,000 shares during the last quarter. Yacktman Asset Management LP bought a new stake in Otelco in the 4th quarter worth approximately $454,000. Meitav Dash Investments Ltd. bought a new stake in Otelco in the 4th quarter worth approximately $824,000. Finally, Weber Alan W bought a new stake in Otelco in the 4th quarter worth approximately $125,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine raised Otelco from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st.
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Otelco Inc provides a range of telecommunications services on a retail and wholesale basis. Otelco Inc, together with its subsidiaries, provides a range of telecommunication services on a retail and wholesale basis. It offers local services, including voice access lines that provide local dial tone and calling features, such as caller identification, call waiting, call forwarding, and voicemail; long distance services; billing and collection services for other carriers under contract; directory advertising services; and other telephone related services comprising leasing, selling, installing, and maintaining customer premise telecommunications equipment, as well as the publication of local telephone directories and wireline voice telephone services.
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