Insider Buying: Brian H. Callahan Acquires 5,000 Shares of Alteva Stock (ALTV)
Alteva (NYSE:ALTV) CFO Brian H. Callahan purchased 5,000 shares of the stock on the open market in a transaction dated Friday, August 15th. The shares were purchased at an average price of $5.56 per share, with a total value of $27,800.00. Following the completion of the transaction, the chief financial officer now directly owns 36,143 shares of the company’s stock, valued at approximately $200,955. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Alteva (NYSE:ALTV) traded up 2.54% during mid-day trading on Monday, hitting $5.65. 18,669 shares of the company’s stock traded hands. Alteva has a 1-year low of $5.34 and a 1-year high of $9.50. The stock has a 50-day moving average of $6.47 and a 200-day moving average of $7.34. The company has a market cap of $32.9 million and a P/E ratio of 1.13.
Separately, analysts at Lake Street Capital downgraded shares of Alteva from a “buy” rating to a “hold” rating in a research note on Tuesday, August 12th. They now have a $7.00 price target on the stock, down previously from $12.00.
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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