Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet purchased 8,797 shares of the firm’s stock in a transaction dated Monday, June 18th. The stock was bought at an average cost of $14.57 per share, for a total transaction of $128,172.29. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Friday, June 15th, Ira Sochet purchased 7,300 shares of Otelco stock. The stock was bought at an average cost of $14.56 per share, for a total transaction of $106,288.00.
  • On Thursday, June 7th, Ira Sochet purchased 14,710 shares of Otelco stock. The stock was bought at an average cost of $13.88 per share, for a total transaction of $204,174.80.
  • On Thursday, April 26th, Ira Sochet purchased 61,200 shares of Otelco stock. The stock was bought at an average cost of $15.02 per share, for a total transaction of $919,224.00.

Shares of Otelco traded up $0.50, reaching $15.05, during trading on Monday, Marketbeat.com reports. The company had a trading volume of 4,162 shares, compared to its average volume of 11,751. The firm has a market capitalization of $49.29 million, a price-to-earnings ratio of 9.21 and a beta of 0.49. Otelco Inc has a 12 month low of $6.95 and a 12 month high of $17.75. The company has a debt-to-equity ratio of 24.78, a current ratio of 1.45 and a quick ratio of 1.19.

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

Several large investors have recently modified their holdings of the company. Wedbush Securities Inc. increased its holdings in shares of 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 buying an additional 5,000 shares during the last quarter. LSV Asset Management grew its holdings in shares of Otelco by 1,620.0% during the 1st quarter. LSV Asset Management now owns 8,600 shares of the technology company’s stock valued at $128,000 after purchasing an additional 8,100 shares during the last quarter. Weber Alan W bought a new position in shares of Otelco during the 4th quarter valued at $125,000. Hancock Holding Co. bought a new position in shares of Otelco during the 1st quarter valued at $271,000. Finally, Meitav Dash Investments Ltd. bought a new position in shares of Otelco during the 4th quarter valued at $824,000. 14.85% of the stock is currently owned by hedge funds and other institutional investors.

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

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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