Insider Selling: Optical Cable (NASDAQ:OCC) CFO Sells $283,485.19 in Stock

Optical Cable Corporation (NASDAQ:OCC) 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 transaction of $283,485.19. Following the completion of the sale, the chief financial officer directly owned 329,826 shares of the company’s stock, valued at $5,682,901.98. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Optical Cable Price Performance

Optical Cable stock opened at $15.81 on Monday. Optical Cable Corporation has a 52 week low of $4.02 and a 52 week high of $27.98. The company’s 50 day moving average price is $15.81 and its two-hundred day moving average price is $10.01. The company has a quick ratio of 0.74, a current ratio of 2.08 and a debt-to-equity ratio of 0.17. The stock has a market cap of $139.60 million, a P/E ratio of 131.76 and a beta of 0.54.

Optical Cable (NASDAQ:OCC) last released its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $22.21 million during the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.During the same period in the prior year, the company earned ($0.09) earnings per share.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OCC shares. Wall Street Zen raised Optical Cable from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Optical Cable

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. bought a new position in Optical Cable during the first quarter valued at $754,000. Shikiar Asset Management Inc. raised its stake in shares of Optical Cable by 14.4% in the first quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock valued at $232,000 after buying an additional 3,550 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Optical Cable by 46.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 48,268 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 15,255 shares during the last quarter. Gendell Jeffrey L lifted its position in shares of Optical Cable by 47.4% during the 4th quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock valued at $1,848,000 after buying an additional 133,510 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Optical Cable by 37.4% during the 4th quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock worth $164,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 13.61% of the company’s stock.

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.