Otelco Inc (NASDAQ:OTEL) Major Shareholder Acquires $16,115.00 in Stock

Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet purchased 1,100 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were purchased at an average cost of $14.65 per share, with a total value of $16,115.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Monday, July 15th, Ira Sochet purchased 4,874 shares of Otelco stock. The shares were purchased at an average cost of $14.53 per share, with a total value of $70,819.22.
  • On Friday, June 7th, Ira Sochet purchased 67,211 shares of Otelco stock. The shares were purchased at an average cost of $15.95 per share, with a total value of $1,072,015.45.
  • On Monday, May 20th, Ira Sochet purchased 8,000 shares of Otelco stock. The shares were purchased at an average cost of $15.50 per share, with a total value of $124,000.00.
  • On Wednesday, May 22nd, Ira Sochet purchased 27,941 shares of Otelco stock. The shares were purchased at an average cost of $15.32 per share, with a total value of $428,056.12.
  • On Wednesday, May 8th, Ira Sochet purchased 1,343 shares of Otelco stock. The shares were purchased at an average cost of $17.60 per share, with a total value of $23,636.80.
  • On Tuesday, April 30th, Ira Sochet purchased 5,021 shares of Otelco stock. The shares were purchased at an average cost of $17.35 per share, with a total value of $87,114.35.
  • On Thursday, May 2nd, Ira Sochet purchased 5,819 shares of Otelco stock. The shares were purchased at an average cost of $17.36 per share, with a total value of $101,017.84.
  • On Monday, April 22nd, Ira Sochet purchased 2,960 shares of Otelco stock. The shares were purchased at an average cost of $17.25 per share, with a total value of $51,060.00.
  • On Wednesday, April 24th, Ira Sochet bought 31,017 shares of Otelco stock. The stock was bought at an average cost of $17.31 per share, with a total value of $536,904.27.

Shares of NASDAQ OTEL traded up $0.02 during trading on Tuesday, reaching $14.87. The company had a trading volume of 3,000 shares, compared to its average volume of 8,125. Otelco Inc has a 52 week low of $14.37 and a 52 week high of $18.31. The stock has a market cap of $50.64 million, a PE ratio of 5.09 and a beta of 0.72. The company has a current ratio of 1.31, a quick ratio of 1.02 and a debt-to-equity ratio of 5.26. The business’s 50 day moving average is $15.52.

Otelco (NASDAQ:OTEL) last announced its earnings results on Wednesday, May 8th. The company reported $0.66 earnings per share for the quarter. Otelco had a net margin of 14.98% and a return on equity of 100.76%. The company had revenue of $15.76 million during the quarter.

A hedge fund recently bought a new stake in Otelco stock. Raymond James Financial Services Advisors Inc. bought a new position in Otelco Inc (NASDAQ:OTEL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,530 shares of the company’s stock, valued at approximately $283,000. Raymond James Financial Services Advisors Inc. owned about 0.52% of Otelco at the end of the most recent quarter. Institutional investors own 11.07% of the company’s stock.

About Otelco

Otelco Inc provides a range of telecommunications services on a retail and wholesale basis. The company offers local services, including voice 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; and directory advertising services.

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