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Alteva (NYSE:ALTV) Director Brian J. Kelley bought 6,000 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was purchased at an average price of $5.78 per share, with a total value of $34,680.00. Following the purchase, the director now directly owns 9,343 shares in the company, valued at approximately $54,003. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Separately, analysts at Lake Street Capital downgraded shares of Alteva from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $7.00 price target on the stock, down previously from $12.00.

Alteva (NYSE:ALTV) traded down 1.96% during mid-day trading on Friday, hitting $5.51. 67,936 shares of the company’s stock traded hands. Alteva has a 1-year low of $5.40 and a 1-year high of $9.50. The stock has a 50-day moving average of $6.52 and a 200-day moving average of $7.36. The company’s market cap is $32.1 million.

Alteva, Inc, formerly Warwick Valley Telephone Company, is a cloud-based communications company that provides unified communications (NYSE:ALTV) solutions and enterprise hosted voice over Internet protocol, and operates as a regional Incumbent local exchange carrier (ILEC) in southern Orange County, New York and northern New Jersey.

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