Insider Buying: Alteva CFO Buys 5,000 Shares of Stock (ALTV)
Alteva (NYSE:ALTV) CFO Brian H. Callahan purchased 5,000 shares of Alteva stock on the open market in a transaction dated Friday, August 15th. The stock was purchased at an average price of $5.56 per share, with a total value of $27,800.00. Following the completion of the purchase, the chief financial officer now directly owns 36,143 shares in the company, valued at approximately $200,955. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, August 12th. They now have a $7.00 price target on the stock, down previously from $12.00.
Shares of Alteva (NYSE:ALTV) opened at 5.58 on Wednesday. Alteva has a 52 week low of $5.34 and a 52 week high of $9.50. The stock’s 50-day moving average is $6.39 and its 200-day moving average is $7.29. The company has a market cap of $32.5 million and a P/E ratio of 1.16.
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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