Otelco Inc (NASDAQ:OTEL) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 800 shares, a decrease of 11.1% from the July 31st total of 900 shares. Based on an average daily volume of 7,100 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Shares of NASDAQ:OTEL traded down $0.02 during midday trading on Friday, reaching $11.75. 318 shares of the company were exchanged, compared to its average volume of 7,885. The company has a current ratio of 1.27, a quick ratio of 1.00 and a debt-to-equity ratio of 4.57. The business’s fifty day moving average is $12.98 and its two-hundred day moving average is $15.30. Otelco has a one year low of $11.00 and a one year high of $18.31. The stock has a market cap of $40.07 million, a PE ratio of 4.54 and a beta of 0.79.

Otelco (NASDAQ:OTEL) last issued its earnings results on Tuesday, August 13th. The company reported $0.50 earnings per share for the quarter. Otelco had a net margin of 13.40% and a return on equity of 72.29%. The firm had revenue of $15.66 million during the quarter.

In other news, major shareholder Ira Sochet acquired 1,719 shares of Otelco stock in a transaction dated Monday, July 29th. The stock was purchased at an average cost of $14.73 per share, with a total value of $25,320.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders bought 139,385 shares of company stock valued at $1,757,128. Corporate insiders own 4.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Otelco by 13.0% during the second quarter. BlackRock Inc. now owns 9,078 shares of the company’s stock worth $146,000 after acquiring an additional 1,043 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Otelco by 5.1% during the second quarter. Acadian Asset Management LLC now owns 15,810 shares of the company’s stock worth $254,000 after acquiring an additional 766 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of Otelco by 14.2% during the first quarter. LSV Asset Management now owns 17,700 shares of the company’s stock worth $290,000 after acquiring an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Otelco Company Profile

Otelco Inc provides a range of telecommunications services on a retail and wholesale basis. The company offers local services, including voice 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; and directory advertising services.

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