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.
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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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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