Ira Sochet Buys 25,778 Shares of Otelco Inc (NASDAQ:OTEL) Stock

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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About Otelco

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.

Insider Buying and Selling by Quarter for Otelco (NASDAQ:OTEL)

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