Otelco (NASDAQ:OTEL) Announces Quarterly Earnings Results

Otelco (NASDAQ:OTEL) announced its quarterly earnings results on Tuesday. The company reported $0.50 earnings per share for the quarter, Morningstar.com reports. The company had revenue of $15.66 million during the quarter. Otelco had a return on equity of 100.76% and a net margin of 14.98%.

Shares of OTEL stock opened at $11.72 on Thursday. The firm’s 50 day moving average is $14.78. The company has a debt-to-equity ratio of 5.26, a quick ratio of 1.02 and a current ratio of 1.31. The stock has a market capitalization of $51.58 million, a PE ratio of 5.35 and a beta of 0.71. Otelco has a twelve month low of $11.00 and a twelve month high of $18.31.

In related news, major shareholder Ira Sochet purchased 8,000 shares of Otelco stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average cost of $15.50 per share, for a total transaction of $124,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 144,090 shares of company stock valued at $2,225,032. 4.60% of the stock is owned by company insiders.



Several institutional investors have recently bought and sold shares of OTEL. LSV Asset Management increased its position in shares of Otelco by 14.2% in the first quarter. LSV Asset Management now owns 17,700 shares of the company’s stock valued at $290,000 after buying an additional 2,200 shares in the last quarter. BlackRock Inc. increased its position in shares of Otelco by 13.0% in the second quarter. BlackRock Inc. now owns 9,078 shares of the company’s stock valued at $146,000 after buying an additional 1,043 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Otelco by 5.1% in the second quarter. Acadian Asset Management LLC now owns 15,810 shares of the company’s stock valued at $254,000 after buying an additional 766 shares in the last quarter. Institutional investors and hedge funds own 10.98% of the company’s stock.

About Otelco

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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Earnings History for Otelco (NASDAQ:OTEL)

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