Insider Buying: Boston Omaha (NYSE:BOC) Director Buys 34,719 Shares of Stock

Boston Omaha Corporation (NYSE:BOC) Director Frank Kenan II purchased 34,719 shares of Boston Omaha stock in a transaction dated Thursday, May 28th. The shares were acquired at an average cost of $13.37 per share, with a total value of $464,193.03. Following the transaction, the director directly owned 299,958 shares in the company, valued at approximately $4,010,438.46. The trade was a 13.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Boston Omaha Stock Performance

Shares of NYSE BOC traded up $0.23 during midday trading on Monday, hitting $13.11. 200,343 shares of the company’s stock traded hands, compared to its average volume of 289,987. 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 firm has a fifty day moving average of $12.16 and a 200 day moving average of $12.41.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming bought a new stake in Boston Omaha in the second quarter worth $50,000. Pittenger & Anderson Inc. bought a new stake in Boston Omaha in the fourth quarter worth $53,000. Mercer Global Advisors Inc. ADV bought a new stake in Boston Omaha in the fourth quarter worth $125,000. Jump Financial LLC bought a new stake in Boston Omaha in the fourth quarter worth $138,000. Finally, Verition Fund Management LLC bought a new stake in Boston Omaha in the third quarter worth $155,000. 60.36% of the stock is currently owned by institutional investors.

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.