Boston Omaha (NYSE:BOC) Director Frank Kenan II Buys 34,719 Shares

Boston Omaha Corporation (NYSE:BOC) Director Frank Kenan II purchased 34,719 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average price of $13.37 per share, with a total value of $464,193.03. Following the completion of the purchase, the director directly owned 299,958 shares in the company, valued at $4,010,438.46. This trade represents a 13.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Boston Omaha Trading Up 1.8%

BOC stock opened at $13.11 on Tuesday. Boston Omaha Corporation has a 1-year low of $10.52 and a 1-year high of $14.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market capitalization of $398.42 million, a price-to-earnings ratio of -29.79 and a beta of 0.69. The business has a 50 day simple moving average of $12.16 and a two-hundred day simple moving average of $12.41.

Boston Omaha (NYSE:BOC) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Boston Omaha had a negative return on equity of 2.57% and a negative net margin of 12.10%.The business had revenue of $28.25 million during the quarter, compared to the consensus estimate of $29.20 million.

Institutional Trading of Boston Omaha

A number of hedge funds and other institutional investors have recently bought and sold shares of BOC. AQR Capital Management LLC increased its stake in Boston Omaha by 6.3% in the first quarter. AQR Capital Management LLC now owns 13,849 shares of the company’s stock worth $202,000 after purchasing an additional 815 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Boston Omaha in the first quarter worth $176,000. Jane Street Group LLC increased its stake in Boston Omaha by 104.7% in the first quarter. Jane Street Group LLC now owns 87,917 shares of the company’s stock worth $1,282,000 after purchasing an additional 44,968 shares during the period. American Century Companies Inc. increased its stake in Boston Omaha by 15.5% in the second quarter. American Century Companies Inc. now owns 52,247 shares of the company’s stock worth $734,000 after purchasing an additional 7,018 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Boston Omaha in the second quarter worth $2,214,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BOC. Wall Street Zen upgraded Boston Omaha from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Boston Omaha from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Boston Omaha presently has a consensus rating of “Sell”.

Boston Omaha Company Profile

Boston Omaha Corporation is a publicly traded holding company headquartered in Omaha, Nebraska. Since its founding in 2015, the company has focused on acquiring and operating growth-oriented businesses in industries with attractive demand characteristics. Boston Omaha’s diversified platform includes middle-mile fiber networks, greenhouse agriculture operations and automotive finance services.

In its telecommunications segment, Boston Omaha develops and operates fiber-based, middle-mile networks that connect carriers, internet service providers and enterprise customers.