Otelco Inc (OTEL) Major Shareholder Buys $124,000.00 in Stock

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Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet acquired 8,000 shares of the stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $15.50 per share, for a total transaction of $124,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 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 Wednesday, May 22nd, Ira Sochet acquired 27,941 shares of Otelco stock. The stock was acquired at an average price of $15.32 per share, for a total transaction of $428,056.12.
  • On Wednesday, May 8th, Ira Sochet acquired 1,343 shares of Otelco stock. The stock was acquired at an average price of $17.60 per share, for a total transaction of $23,636.80.
  • On Tuesday, April 30th, Ira Sochet acquired 5,021 shares of Otelco stock. The stock was acquired at an average price of $17.35 per share, for a total transaction of $87,114.35.
  • On Thursday, May 2nd, Ira Sochet acquired 5,819 shares of Otelco stock. The stock was acquired at an average price of $17.36 per share, for a total transaction of $101,017.84.
  • On Monday, April 22nd, Ira Sochet acquired 2,960 shares of Otelco stock. The stock was acquired at an average price of $17.25 per share, for a total transaction of $51,060.00.
  • On Wednesday, April 24th, Ira Sochet acquired 31,017 shares of Otelco stock. The stock was acquired at an average price of $17.31 per share, for a total transaction of $536,904.27.
  • On Monday, April 15th, Ira Sochet acquired 6,518 shares of Otelco stock. The stock was acquired at an average price of $17.30 per share, for a total transaction of $112,761.40.
  • On Monday, April 8th, Ira Sochet acquired 2,270 shares of Otelco stock. The stock was acquired at an average price of $17.20 per share, for a total transaction of $39,044.00.
  • On Wednesday, April 10th, Ira Sochet acquired 7,341 shares of Otelco stock. The stock was acquired at an average price of $17.08 per share, for a total transaction of $125,384.28.
  • On Friday, March 29th, Ira Sochet bought 15,717 shares of Otelco stock. The stock was purchased at an average cost of $16.50 per share, with a total value of $259,330.50.

NASDAQ:OTEL opened at $15.45 on Friday. Otelco Inc has a 1-year low of $13.10 and a 1-year high of $18.31. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.31 and a quick ratio of 1.02. The firm has a market capitalization of $52.38 million, a P/E ratio of 5.43 and a beta of 0.74.

Otelco (NASDAQ:OTEL) last released its earnings results on Monday, March 4th. The company reported $0.65 earnings per share for the quarter. Otelco had a net margin of 14.98% and a return on equity of 100.76%. The business had revenue of $16.20 million during the quarter.

A number of hedge funds have recently added to or reduced their stakes in the business. LSV Asset Management boosted its position in Otelco by 14.2% during the first quarter. LSV Asset Management now owns 17,700 shares of the company’s stock worth $290,000 after purchasing an additional 2,200 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Otelco by 22.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,452 shares of the company’s stock worth $352,000 after purchasing an additional 3,922 shares during the period. Vanguard Group Inc boosted its position in Otelco by 19.6% during the third quarter. Vanguard Group Inc now owns 70,784 shares of the company’s stock worth $1,231,000 after purchasing an additional 11,600 shares during the period. Finally, Vanguard Group Inc. boosted its position in Otelco by 19.6% during the third quarter. Vanguard Group Inc. now owns 70,784 shares of the company’s stock worth $1,231,000 after purchasing an additional 11,600 shares during the period. 11.02% 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. 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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Insider Buying and Selling by Quarter for Otelco (NASDAQ:OTEL)

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