Legacy Financial Advisors Inc. Lowers Holdings in Optical Cable Corporation $OCC

Legacy Financial Advisors Inc. lowered its position in Optical Cable Corporation (NASDAQ:OCC) by 83.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,393 shares of the communications equipment provider’s stock after selling 213,141 shares during the quarter. Legacy Financial Advisors Inc. owned approximately 0.49% of Optical Cable worth $193,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Two Sigma Investments LP purchased a new stake in shares of Optical Cable in the 3rd quarter worth $487,000. Round Rock Advisors LLC purchased a new position in shares of Optical Cable during the fourth quarter valued at $139,000. Bridgeway Capital Management LLC raised its holdings in shares of Optical Cable by 162.0% in the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after acquiring an additional 20,413 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Optical Cable in the third quarter valued at about $135,000. Finally, Citadel Advisors LLC purchased a new stake in Optical Cable in the third quarter worth about $102,000. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Optical Cable presently has a consensus rating of “Sell”.

Optical Cable Stock Down 10.3%

Optical Cable stock opened at $11.78 on Friday. The firm has a market cap of $104.02 million, a P/E ratio of -130.87 and a beta of 0.53. The business has a fifty day moving average of $9.56 and a two-hundred day moving average of $7.39. Optical Cable Corporation has a twelve month low of $2.44 and a twelve month high of $13.95.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings results on Tuesday, March 10th. The communications equipment provider reported ($0.05) EPS for the quarter. The company had revenue of $16.43 million during the quarter. Optical Cable had a negative return on equity of 4.14% and a negative net margin of 1.01%.

Optical Cable 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.