Optical Cable (NASDAQ:OCC) CFO Sells 16,453 Shares

Key Points

• Optical Cable CFO Tracy Smith sold 16,453 shares on July 9 at an average price of $17.23, totaling about $283,485. After the sale, Smith still owned 329,826 shares, a 4.75% decrease in holdings.
• OCC shares fell 3.7% in Friday trading to $15.81, below recent highs but near its 50-day moving average. The stock has ranged from $4.02 to $27.98 over the past year.
• The company recently reported Q1 EPS of $0.12 on revenue of $22.21 million, compared with a loss of $0.09 per share in the same quarter last year. Analyst sentiment remains cautious, with a consensus rating of Sell.

Optical Cable Corporation (NASDAQ:OCC - Get Free Report) CFO Tracy Smith sold 16,453 shares of the company's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $17.23, for a total value of $283,485.19. Following the transaction, the chief financial officer directly owned 329,826 shares of the company's stock, valued at $5,682,901.98. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Optical Cable Stock Down 3.7%

Shares of NASDAQ:OCC traded down $0.60 during mid-day trading on Friday, reaching $15.81. 192,515 shares of the stock were exchanged, compared to its average volume of 435,405. The stock's 50 day simple moving average is $15.67 and its 200-day simple moving average is $9.93. Optical Cable Corporation has a one year low of $4.02 and a one year high of $27.98. The company has a market cap of $139.60 million, a P/E ratio of 131.76 and a beta of 0.54. The company has a quick ratio of 0.74, a current ratio of 2.08 and a debt-to-equity ratio of 0.17.

Optical Cable (NASDAQ:OCC - Get Free Report) last released its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 EPS for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.The firm had revenue of $22.21 million for the quarter. During the same quarter in the previous year, the firm posted ($0.09) EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Optical Cable in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Optical Cable from a "hold" rating to a "buy" rating in a research note on Sunday, July 5th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of "Sell".

Hedge Funds Weigh In On Optical Cable

A number of institutional investors have recently added to or reduced their stakes in OCC. Gendell Jeffrey L raised its holdings in Optical Cable by 47.4% in the 4th quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider's stock valued at $1,848,000 after acquiring an additional 133,510 shares during the period. Sei Investments Co. bought a new stake in shares of Optical Cable during the first quarter worth approximately $754,000. Two Sigma Investments LP bought a new stake in shares of Optical Cable during the third quarter worth approximately $487,000. Jane Street Group LLC acquired a new position in shares of Optical Cable in the fourth quarter valued at approximately $210,000. Finally, Round Rock Advisors LLC bought a new position in shares of Optical Cable during the fourth quarter worth approximately $139,000. 13.61% of the stock is currently owned by institutional investors and hedge funds.

About Optical Cable

Optical Cable Corporation NASDAQ: OCC is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company's offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.

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