Otelco Inc (NASDAQ:OTEL) Director Gary L. Sugarman bought 680 shares of the stock in a transaction dated Wednesday, March 14th. The stock was purchased at an average cost of $14.73 per share, for a total transaction of $10,016.40. Following the acquisition, the director now owns 8,993 shares of the company’s stock, valued at $132,466.89. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
OTEL stock opened at $15.90 on Friday. Otelco Inc has a 52 week low of $6.50 and a 52 week high of $17.75. The stock has a market cap of $53.87, a P/E ratio of 10.82 and a beta of 0.51. The company has a current ratio of 1.32, a quick ratio of 1.10 and a debt-to-equity ratio of 53.37.
Otelco (NASDAQ:OTEL) last announced its quarterly earnings results on Monday, March 5th. The technology company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $16.79 million for the quarter. Otelco had a net margin of 17.68% and a negative return on equity of 94.93%.
Large investors have recently bought and sold shares of the company. Weber Alan W acquired a new position in shares of Otelco in the fourth quarter valued at approximately $125,000. Yacktman Asset Management LP acquired a new position in Otelco during the fourth quarter worth approximately $454,000. Meitav Dash Investments Ltd. acquired a new position in Otelco during the fourth quarter worth approximately $824,000. Finally, Wedbush Securities Inc. increased its position in Otelco by 4.1% during the fourth quarter. Wedbush Securities Inc. now owns 126,993 shares of the technology company’s stock worth $1,695,000 after purchasing an additional 5,000 shares during the last quarter. 15.12% of the stock is owned by institutional investors and hedge funds.
Separately, ValuEngine raised shares of Otelco from a “sell” rating to a “hold” rating in a report on Sunday, December 31st.
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Otelco Company Profile
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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