Otelco Inc (OTEL) Major Shareholder Ira Sochet Purchases 14,710 Shares

Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet bought 14,710 shares of the firm’s stock in a transaction on Thursday, June 7th. The stock was acquired at an average cost of $13.88 per share, with a total value of $204,174.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Ira Sochet also recently made the following trade(s):

  • On Thursday, April 26th, Ira Sochet bought 61,200 shares of Otelco stock. The stock was acquired at an average cost of $15.02 per share, with a total value of $919,224.00.

Otelco opened at $14.25 on Tuesday, according to Marketbeat. The company has a quick ratio of 1.19, a current ratio of 1.45 and a debt-to-equity ratio of 24.78. The firm has a market cap of $47.77 million, a P/E ratio of 8.92 and a beta of 0.49. Otelco Inc has a 1 year low of $6.95 and a 1 year high of $17.75.

Otelco (NASDAQ:OTEL) last posted its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.58 earnings per share (EPS) for the quarter. The business had revenue of $16.73 million during the quarter. Otelco had a net margin of 18.42% and a negative return on equity of 245.47%.

Separately, ValuEngine raised shares of Otelco from a “hold” rating to a “buy” rating in a research report on Friday, May 4th.

Several hedge funds and other institutional investors have recently bought and sold shares of OTEL. Wedbush Securities Inc. boosted its holdings in shares of Otelco by 4.1% during the 4th quarter. Wedbush Securities Inc. now owns 126,993 shares of the technology company’s stock worth $1,695,000 after buying an additional 5,000 shares during the period. Weber Alan W acquired a new position in shares of Otelco in the 4th quarter valued at $125,000. Meitav Dash Investments Ltd. acquired a new position in shares of Otelco in the 4th quarter valued at $824,000. LSV Asset Management raised its stake in shares of Otelco by 1,620.0% in the 1st quarter. LSV Asset Management now owns 8,600 shares of the technology company’s stock valued at $128,000 after buying an additional 8,100 shares in the last quarter. Finally, Hancock Holding Co. acquired a new position in shares of Otelco in the 1st quarter valued at $271,000. 14.85% of the stock is owned by institutional investors and hedge funds.

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.

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

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