Sei Investments Co. Acquires Shares of 91,364 Optical Cable Corporation $OCC

Sei Investments Co. acquired a new position in shares of Optical Cable Corporation (NASDAQ:OCC) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 91,364 shares of the communications equipment provider’s stock, valued at approximately $754,000. Sei Investments Co. owned 1.03% of Optical Cable at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Optical Cable during the 4th quarter worth $57,000. Citadel Advisors LLC acquired a new stake in shares of Optical Cable during the third quarter worth $102,000. Round Rock Advisors LLC acquired a new stake in Optical Cable in the 4th quarter worth about $139,000. State Street Corp grew its holdings in Optical Cable by 37.4% in the fourth quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock valued at $164,000 after purchasing an additional 10,000 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Optical Cable during the 4th quarter valued at $210,000. 13.61% of the stock is currently owned by institutional investors and hedge funds.

Optical Cable Stock Down 1.5%

Shares of NASDAQ:OCC opened at $16.63 on Friday. Optical Cable Corporation has a 12-month low of $4.02 and a 12-month high of $27.98. The company has a current ratio of 2.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The firm has a market cap of $146.79 million, a PE ratio of 138.59 and a beta of 0.55. The company has a fifty day simple moving average of $17.36 and a 200 day simple moving average of $11.86.

Optical Cable (NASDAQ:OCC) last issued its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $22.21 million for the quarter. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%. During the same quarter last year, the company posted ($0.09) EPS.

Analyst Ratings Changes

Several brokerages have commented on OCC. Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Optical Cable from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Optical Cable currently has a consensus rating of “Sell”.

Insider Transactions at Optical Cable

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total transaction 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 represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 22.40% of the stock is owned by insiders.

About Optical Cable

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.