Otelco Inc (NASDAQ:OTEL) Director Gary L. Sugarman Acquires 890 Shares

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Otelco Inc (NASDAQ:OTEL) Director Gary L. Sugarman purchased 890 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $11.25 per share, with a total value of $10,012.50. Following the acquisition, the director now owns 7,169 shares in the company, valued at $80,651.25. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Shares of OTEL stock traded down $0.01 during trading hours on Monday, hitting $11.43. The company had a trading volume of 1 shares, compared to its average volume of 2,244. The firm has a market capitalization of $39.01 million, a price-to-earnings ratio of 4.89 and a beta of 0.81. Otelco Inc has a 12 month low of $11.00 and a 12 month high of $18.31. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.90 and a current ratio of 1.21. The firm’s fifty day moving average is $11.64 and its 200 day moving average is $13.80.

Separately, ValuEngine raised Otelco from a “hold” rating to a “buy” rating in a report on Saturday, October 5th.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Otelco by 13.0% in the 2nd quarter. BlackRock Inc. now owns 9,078 shares of the company’s stock valued at $146,000 after acquiring an additional 1,043 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Otelco by 5.1% in the 2nd quarter. Acadian Asset Management LLC now owns 15,810 shares of the company’s stock valued at $254,000 after acquiring an additional 766 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of Otelco by 0.8% in the 3rd quarter. Wedbush Securities Inc. now owns 124,536 shares of the company’s stock valued at $1,441,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 11.51% 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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