Ira Sochet Buys 1,678 Shares of Otelco Inc (OTEL) Stock

Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet bought 1,678 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of $14.13 per share, with a total value of $23,710.14. Following the transaction, the insider now directly owns 676,196 shares in the company, valued at approximately $9,554,649.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Wednesday, February 7th, Ira Sochet bought 25,778 shares of Otelco stock. The stock was purchased at an average cost of $14.11 per share, with a total value of $363,727.58.
  • On Tuesday, November 21st, Ira Sochet bought 287,366 shares of Otelco stock. The stock was purchased at an average cost of $11.95 per share, with a total value of $3,434,023.70.
  • On Monday, November 27th, Ira Sochet bought 289,076 shares of Otelco stock. The stock was purchased at an average cost of $11.94 per share, with a total value of $3,451,567.44.

Otelco Inc (NASDAQ:OTEL) opened at $14.25 on Thursday. Otelco Inc has a 52-week low of $5.70 and a 52-week high of $15.50. The company has a debt-to-equity ratio of -13.79, a quick ratio of 1.48 and a current ratio of 1.73. The firm has a market capitalization of $47.19, a P/E ratio of 8.69 and a beta of 0.53.

Otelco (NASDAQ:OTEL) last posted its quarterly earnings data on Monday, November 6th. The technology company reported $0.46 earnings per share for the quarter. Otelco had a negative return on equity of 67.92% and a net margin of 8.28%.

An institutional investor recently bought a new position in Otelco stock. Yacktman Asset Management LP acquired a new stake in shares of Otelco Inc (NASDAQ:OTEL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 34,031 shares of the technology company’s stock, valued at approximately $454,000. Yacktman Asset Management LP owned approximately 1.02% of Otelco as of its most recent SEC filing. 12.47% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine raised Otelco from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st.

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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.

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

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