Insider Buying: Otelco Inc (OTEL) Major Shareholder Buys 16,252 Shares of Stock

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Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet acquired 16,252 shares of Otelco stock in a transaction that occurred on Friday, July 20th. The stock was bought at an average price of $14.89 per share, with a total value of $241,992.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Monday, July 30th, Ira Sochet acquired 24,857 shares of Otelco stock. The stock was bought at an average price of $15.01 per share, with a total value of $373,103.57.
  • On Tuesday, July 24th, Ira Sochet acquired 14,658 shares of Otelco stock. The stock was bought at an average price of $14.78 per share, with a total value of $216,645.24.
  • On Monday, July 9th, Ira Sochet acquired 14,348 shares of Otelco stock. The stock was bought at an average price of $15.03 per share, with a total value of $215,650.44.
  • On Friday, July 6th, Ira Sochet acquired 3,990 shares of Otelco stock. The stock was bought at an average price of $15.05 per share, with a total value of $60,049.50.
  • On Friday, June 29th, Ira Sochet acquired 21,083 shares of Otelco stock. The stock was bought at an average price of $15.00 per share, with a total value of $316,245.00.
  • On Monday, June 25th, Ira Sochet acquired 14,599 shares of Otelco stock. The stock was bought at an average price of $15.02 per share, with a total value of $219,276.98.
  • On Friday, June 15th, Ira Sochet acquired 7,300 shares of Otelco stock. The stock was bought at an average price of $14.56 per share, with a total value of $106,288.00.
  • On Monday, June 18th, Ira Sochet acquired 8,797 shares of Otelco stock. The stock was bought at an average price of $14.57 per share, with a total value of $128,172.29.
  • On Thursday, June 7th, Ira Sochet acquired 14,710 shares of Otelco stock. The stock was bought at an average price of $13.88 per share, with a total value of $204,174.80.
  • On Thursday, April 26th, Ira Sochet bought 61,200 shares of Otelco stock. The shares were acquired at an average price of $15.02 per share, with a total value of $919,224.00.

OTEL traded up $1.64 during midday trading on Tuesday, reaching $16.85. 28,870 shares of the company’s stock were exchanged, compared to its average volume of 8,498. The company has a current ratio of 1.45, a quick ratio of 1.19 and a debt-to-equity ratio of 24.78. The stock has a market cap of $51.44 million, a P/E ratio of 9.61 and a beta of 0.50. Otelco Inc has a 1-year low of $8.15 and a 1-year high of $17.75.

Separately, ValuEngine upgraded shares of Otelco from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd.

A number of institutional investors and hedge funds have recently made changes to their positions in OTEL. Meitav Dash Investments Ltd. acquired a new position in Otelco during the fourth quarter worth about $824,000. Raffles Associates LP acquired a new position in Otelco during the second quarter worth about $300,000. Hancock Holding Co. acquired a new position in Otelco during the first quarter worth about $271,000. LSV Asset Management raised its position in Otelco by 1,620.0% during the first quarter. LSV Asset Management now owns 8,600 shares of the technology company’s stock worth $128,000 after acquiring an additional 8,100 shares during the last quarter. Finally, BlackRock Inc. raised its position in Otelco by 930.7% during the second 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. Institutional investors own 14.95% of the company’s stock.

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.

Read More: Market Capitalization in the Stock Market

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

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