Ira Sochet Buys 8,797 Shares of Otelco Inc (OTEL) Stock
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.
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.
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