Otelco Inc (NASDAQ:OTEL) Short Interest Down 78.6% in July
Otelco Inc (NASDAQ:OTEL) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 600 shares, a drop of 78.6% from the June 15th total of 2,800 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 9,000 shares, the short-interest ratio is currently 0.1 days.
In other Otelco news, major shareholder Ira Sochet acquired 5,021 shares of Otelco stock in a transaction dated Tuesday, April 30th. The stock was bought at an average price of $17.35 per share, for a total transaction of $87,114.35. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders have bought 154,554 shares of company stock valued at $2,411,480. Insiders own 4.60% of the company’s stock.
An institutional investor recently bought a new position in Otelco stock. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Otelco Inc (NASDAQ:OTEL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,530 shares of the company’s stock, valued at approximately $283,000. Raymond James Financial Services Advisors Inc. owned approximately 0.52% of Otelco at the end of the most recent quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.
Otelco (NASDAQ:OTEL) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.66 earnings per share for the quarter. Otelco had a net margin of 14.98% and a return on equity of 100.76%. The company had revenue of $15.76 million during the quarter.
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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