Boston Omaha (NYSE:BOC) Stock Price Up 0.4% – Here’s Why

Boston Omaha Corporation (NYSE:BOC)’s stock price was up 0.4% during mid-day trading on Monday . The company traded as high as $13.35 and last traded at $13.1940. 210,585 shares traded hands during trading, an increase of 1% from the average daily volume of 207,589 shares. The stock had previously closed at $13.14.

Wall Street Analyst Weigh In

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

Boston Omaha Stock Performance

The stock has a 50 day moving average of $12.54 and a 200 day moving average of $12.52. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.09. The firm has a market cap of $401.10 million, a price-to-earnings ratio of -29.99 and a beta of 0.69.

Boston Omaha (NYSE:BOC) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $28.25 million for the quarter, compared to analyst estimates of $29.20 million. Boston Omaha had a negative return on equity of 2.57% and a negative net margin of 12.10%.

Insider Buying and Selling

In other news, Director Jeffrey C. Royal acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $12.72 per share, with a total value of $127,200.00. Following the completion of the purchase, the director directly owned 69,644 shares of the company’s stock, valued at $885,871.68. The trade was a 16.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank H. Kenan II acquired 6,033 shares of the stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $12.89 per share, with a total value of $77,765.37. Following the completion of the transaction, the director owned 315,991 shares of the company’s stock, valued at approximately $4,073,123.99. This represents a 1.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 81,798 shares of company stock valued at $1,064,068. 23.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Omaha

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elgethun Capital Management boosted its holdings in shares of Boston Omaha by 36.1% in the 3rd quarter. Elgethun Capital Management now owns 1,426,608 shares of the company’s stock valued at $18,632,000 after purchasing an additional 378,624 shares in the last quarter. Nitor Capital Management LLC bought a new stake in shares of Boston Omaha during the 4th quarter worth $4,581,000. First Manhattan CO. LLC. bought a new stake in shares of Boston Omaha during the 4th quarter worth $4,131,000. Arrowstreet Capital Limited Partnership acquired a new stake in Boston Omaha in the second quarter valued at about $2,214,000. Finally, Jane Street Group LLC boosted 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 valued at $1,282,000 after buying an additional 44,968 shares in the last quarter. 60.36% of the stock is currently owned by institutional investors.

About Boston Omaha

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.