Ira Sochet Acquires 7,151 Shares of Otelco Inc (OTEL) Stock

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Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet purchased 7,151 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $15.40 per share, for a total transaction of $110,125.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major 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 Friday, March 15th, Ira Sochet purchased 2,698 shares of Otelco stock. The stock was purchased at an average price of $15.41 per share, for a total transaction of $41,576.18.
  • On Thursday, March 7th, Ira Sochet purchased 60,000 shares of Otelco stock. The stock was purchased at an average price of $15.75 per share, for a total transaction of $945,000.00.
  • On Tuesday, February 26th, Ira Sochet purchased 28,120 shares of Otelco stock. The stock was purchased at an average price of $16.40 per share, for a total transaction of $461,168.00.
  • On Tuesday, January 8th, Ira Sochet purchased 11,000 shares of Otelco stock. The stock was purchased at an average price of $16.00 per share, for a total transaction of $176,000.00.
  • On Thursday, December 27th, Ira Sochet purchased 935 shares of Otelco stock. The stock was purchased at an average price of $15.91 per share, for a total transaction of $14,875.85.
  • On Thursday, January 3rd, Ira Sochet purchased 5,935 shares of Otelco stock. The stock was purchased at an average price of $15.99 per share, for a total transaction of $94,900.65.
  • On Thursday, December 20th, Ira Sochet purchased 26,830 shares of Otelco stock. The stock was purchased at an average price of $15.98 per share, for a total transaction of $428,743.40.
  • On Tuesday, December 18th, Ira Sochet purchased 28,300 shares of Otelco stock. The stock was purchased at an average price of $15.96 per share, for a total transaction of $451,668.00.

Otelco stock traded down $0.10 during mid-day trading on Monday, reaching $15.50. The stock had a trading volume of 7,300 shares, compared to its average volume of 7,017. The stock has a market cap of $52.88 million, a price-to-earnings ratio of 5.58 and a beta of 0.75. Otelco Inc has a one year low of $12.10 and a one year high of $17.75. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.23 and a quick ratio of 0.91.

Otelco (NASDAQ:OTEL) last posted its earnings results on Monday, March 4th. The technology company reported $0.65 earnings per share (EPS) for the quarter. The business had revenue of $16.20 million for the quarter. Otelco had a net margin of 14.33% and a return on equity of 131.34%.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Otelco by 930.7% during the 2nd quarter. BlackRock Inc. now owns 8,359 shares of the technology company’s stock valued at $125,000 after acquiring an additional 7,548 shares during the period. LSV Asset Management lifted its stake in Otelco by 59.8% during the 4th quarter. LSV Asset Management now owns 15,500 shares of the technology company’s stock valued at $250,000 after acquiring an additional 5,800 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Otelco during the 4th quarter valued at about $283,000. Raffles Associates LP lifted its stake in Otelco by 50.0% during the 3rd quarter. Raffles Associates LP now owns 30,000 shares of the technology company’s stock valued at $522,000 after acquiring an additional 10,000 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Otelco by 19.6% during the 3rd quarter. Vanguard Group Inc. now owns 70,784 shares of the technology company’s stock valued at $1,231,000 after acquiring an additional 11,600 shares during the period. Institutional investors and hedge funds own 11.90% of the company’s stock.

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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.

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