Boston Omaha (NYSE:BOC) Stock Price Up 0.4% – Should You Buy?

Boston Omaha Corporation (NYSE:BOC) shares shot up 0.4% during mid-day trading on Monday . The company traded as high as $13.35 and last traded at $13.1940. Approximately 210,585 shares were traded 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 Analysts Forecast Growth

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

Boston Omaha Trading Down 0.8%

The company has a fifty day simple moving average of $12.56 and a two-hundred day simple moving average of $12.52. The company has a market capitalization of $401.30 million, a P/E ratio of -30.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.86 and a quick ratio of 1.86.

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

Insider Activity at Boston Omaha

In other news, Director Frank H. Kenan II purchased 34,719 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were bought at an average price of $13.37 per share, with a total value of $464,193.03. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey C. Royal acquired 11,046 shares of Boston Omaha stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $12.82 per share, with a total value of $141,609.72. Following the completion of the purchase, the director directly owned 21,046 shares of the company’s stock, valued at $269,809.72. The trade was a 110.46% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 81,798 shares of company stock worth $1,064,068. Corporate insiders own 23.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Elgethun Capital Management lifted its holdings in shares of Boston Omaha by 36.1% during the third quarter. Elgethun Capital Management now owns 1,426,608 shares of the company’s stock worth $18,632,000 after buying an additional 378,624 shares during the last quarter. Nitor Capital Management LLC acquired a new stake in shares of Boston Omaha in the fourth quarter worth $4,581,000. First Manhattan CO. LLC. acquired a new stake in shares of Boston Omaha in the fourth quarter worth $4,131,000. Arrowstreet Capital Limited Partnership bought a new position in Boston Omaha during the second quarter worth $2,214,000. Finally, Jane Street Group LLC raised its stake in Boston Omaha by 104.7% during the 1st quarter. Jane Street Group LLC now owns 87,917 shares of the company’s stock valued at $1,282,000 after purchasing an additional 44,968 shares during the last quarter. Institutional investors and hedge funds own 60.36% of the company’s stock.

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.