Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet purchased 11,751 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were purchased at an average cost of $15.97 per share, with a total value of $187,663.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Ira Sochet also recently made the following trade(s):
- On Wednesday, November 28th, Ira Sochet purchased 10,992 shares of Otelco stock. The shares were purchased at an average cost of $16.02 per share, with a total value of $176,091.84.
- On Wednesday, October 24th, Ira Sochet purchased 5,228 shares of Otelco stock. The shares were purchased at an average cost of $15.92 per share, with a total value of $83,229.76.
Shares of NASDAQ OTEL opened at $16.20 on Thursday. The company has a debt-to-equity ratio of 8.31, a current ratio of 1.13 and a quick ratio of 0.91. The firm has a market cap of $54.89 million, a price-to-earnings ratio of 7.40 and a beta of 0.59. Otelco Inc has a 1 year low of $12.10 and a 1 year high of $17.75.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Otelco by 930.7% during the 2nd quarter. BlackRock Inc. now owns 8,359 shares of the technology company’s stock valued at $125,000 after purchasing an additional 7,548 shares in the last quarter. Raffles Associates LP bought a new stake in shares of Otelco during the 2nd quarter worth $300,000. Finally, Vanguard Group Inc. boosted its stake in shares of Otelco by 19.6% during the 3rd quarter. Vanguard Group Inc. now owns 70,784 shares of the technology company’s stock worth $1,231,000 after acquiring an additional 11,600 shares in the last quarter. 10.42% of the stock is owned by hedge funds and other institutional investors.
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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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