Tracy Smith Sells 16,453 Shares of Optical Cable (NASDAQ:OCC) Stock

Optical Cable Corporation (NASDAQ:OCC) CFO Tracy Smith sold 16,453 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $17.23, for a total value of $283,485.19. Following the sale, the chief financial officer owned 329,826 shares in the company, valued at $5,682,901.98. This trade 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 at this link.

Optical Cable Price Performance

Optical Cable stock traded down $0.60 during midday trading on Friday, reaching $15.81. The company had a trading volume of 192,515 shares, compared to its average volume of 439,043. Optical Cable Corporation has a 12-month low of $4.02 and a 12-month high of $27.98. The firm’s fifty day simple moving average is $15.81 and its 200-day simple moving average is $9.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.08 and a quick ratio of 0.74. The company has a market capitalization of $139.60 million, a P/E ratio of 131.76 and a beta of 0.54.

Optical Cable (NASDAQ:OCC) last issued its quarterly earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share (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 period in the prior year, the firm earned ($0.09) earnings per share.

Wall Street Analysts Forecast Growth

OCC has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Optical Cable from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Optical Cable

A number of hedge funds have recently modified their holdings of OCC. Gendell Jeffrey L increased its position in Optical Cable by 47.4% during the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock worth $1,848,000 after purchasing an additional 133,510 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Optical Cable by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock valued at $1,197,000 after purchasing an additional 4,497 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Optical Cable by 8.3% in the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after buying an additional 9,535 shares during the period. Sei Investments Co. purchased a new stake in shares of Optical Cable in the 1st quarter valued at approximately $754,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Optical Cable during the 3rd quarter worth approximately $487,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Company Profile

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.