Ira Sochet Purchases 25,778 Shares of Otelco Inc (OTEL) Stock
Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet bought 25,778 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average cost of $14.11 per share, with a total value of $363,727.58. Following the transaction, the insider now directly owns 676,196 shares in the company, valued at approximately $9,541,125.56. 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 Monday, February 5th, Ira Sochet bought 1,678 shares of Otelco stock. The stock was purchased at an average cost of $14.13 per share, with a total value of $23,710.14.
- 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 $14.57 on Friday. Otelco Inc has a 52-week low of $5.70 and a 52-week high of $15.50. The stock has a market capitalization of $47.68, a P/E ratio of 8.64 and a beta of 0.56. The company has a debt-to-equity ratio of -13.79, a current ratio of 1.73 and a quick ratio of 1.48.
A hedge fund recently bought a new stake in Otelco stock. Yacktman Asset Management LP bought a new position in Otelco Inc (NASDAQ:OTEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 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 filing with the SEC. Institutional investors own 12.47% of the company’s stock.
Separately, ValuEngine raised Otelco from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st.
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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