Insider Buying: Otelco Inc (OTEL) Major Shareholder Acquires 11,000 Shares of Stock

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Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet purchased 11,000 shares of the business’s stock in a transaction on Tuesday, January 8th. The stock was purchased at an average cost of $16.00 per share, with a total value of $176,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Friday, December 27th, Ira Sochet purchased 935 shares of Otelco stock. The stock was purchased at an average cost of $15.91 per share, with a total value of $14,875.85.
  • On Thursday, January 3rd, Ira Sochet purchased 5,935 shares of Otelco stock. The stock was purchased at an average cost of $15.99 per share, with a total value of $94,900.65.
  • On Thursday, December 20th, Ira Sochet purchased 26,830 shares of Otelco stock. The stock was purchased at an average cost of $15.98 per share, with a total value of $428,743.40.
  • On Friday, December 14th, Ira Sochet bought 19,515 shares of Otelco stock. The stock was bought at an average cost of $15.91 per share, with a total value of $310,483.65.
  • On Tuesday, December 18th, Ira Sochet bought 28,300 shares of Otelco stock. The stock was bought at an average cost of $15.96 per share, with a total value of $451,668.00.
  • On Wednesday, December 12th, Ira Sochet bought 11,870 shares of Otelco stock. The stock was bought at an average cost of $16.04 per share, with a total value of $190,394.80.
  • On Thursday, December 6th, Ira Sochet bought 39,442 shares of Otelco stock. The stock was bought at an average cost of $16.00 per share, with a total value of $631,072.00.
  • On Monday, December 3rd, Ira Sochet bought 11,751 shares of Otelco stock. The stock was bought at an average cost of $15.97 per share, with a total value of $187,663.47.
  • On Wednesday, November 28th, Ira Sochet bought 10,992 shares of Otelco stock. The stock was bought at an average cost of $16.02 per share, with a total value of $176,091.84.
  • On Wednesday, October 24th, Ira Sochet bought 5,228 shares of Otelco stock. The stock was bought at an average cost of $15.92 per share, with a total value of $83,229.76.

Shares of OTEL opened at $16.49 on Friday. Otelco Inc has a 1 year low of $12.10 and a 1 year high of $17.75. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 8.31. The company has a market capitalization of $55.39 million, a PE ratio of 7.47 and a beta of 0.55.

Otelco (NASDAQ:OTEL) last issued its earnings results on Wednesday, November 7th. The technology company reported $0.67 earnings per share (EPS) for the quarter. Otelco had a return on equity of 155.22% and a net margin of 21.92%. The business had revenue of $16.25 million during the quarter.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Otelco by 19.6% in the 3rd quarter. Vanguard Group Inc. now owns 70,784 shares of the technology company’s stock worth $1,231,000 after buying an additional 11,600 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Otelco by 19.6% in the 3rd quarter. Vanguard Group Inc now owns 70,784 shares of the technology company’s stock worth $1,231,000 after buying an additional 11,600 shares in the last quarter. Raffles Associates LP raised its holdings in shares of Otelco by 50.0% in the 3rd quarter. Raffles Associates LP now owns 30,000 shares of the technology company’s stock worth $522,000 after buying an additional 10,000 shares in the last quarter. Finally, BlackRock Inc. grew its position in Otelco by 930.7% during the 2nd quarter. BlackRock Inc. now owns 8,359 shares of the technology company’s stock worth $125,000 after acquiring an additional 7,548 shares during the last quarter. 10.42% of the stock is owned by institutional investors and hedge funds.

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

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