Ira Sochet Acquires 25,778 Shares of Otelco Inc (OTEL) Stock

Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet purchased 25,778 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were acquired at an average price of $14.11 per share, for a total transaction of $363,727.58. Following the acquisition, the insider now directly owns 676,196 shares in the company, valued at approximately $9,541,125.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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 Monday, February 5th, Ira Sochet purchased 1,678 shares of Otelco stock. The shares were acquired at an average price of $14.13 per share, for a total transaction of $23,710.14.
  • On Tuesday, November 21st, Ira Sochet purchased 287,366 shares of Otelco stock. The shares were acquired at an average price of $11.95 per share, for a total transaction of $3,434,023.70.
  • On Monday, November 27th, Ira Sochet purchased 289,076 shares of Otelco stock. The shares were acquired at an average price of $11.94 per share, for a total transaction of $3,451,567.44.

Otelco Inc (OTEL) opened at $15.50 on Friday. The firm has a market cap of $47.68, a price-to-earnings ratio of 9.39 and a beta of 0.56. The company has a debt-to-equity ratio of -13.79, a quick ratio of 1.48 and a current ratio of 1.73. Otelco Inc has a twelve month low of $5.70 and a twelve month high of $15.50.

A hedge fund recently bought a new stake in Otelco stock. Yacktman Asset Management LP purchased a new stake in shares of Otelco Inc (NASDAQ:OTEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 34,031 shares of the technology company’s stock, valued at approximately $454,000. Yacktman Asset Management LP owned approximately 1.02% of Otelco at the end of the most recent quarter. Hedge funds and other institutional investors own 12.47% of the company’s stock.

Separately, ValuEngine upgraded shares of Otelco from a “sell” rating to a “hold” rating in a report on Friday, February 2nd.

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About Otelco

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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