Boston Omaha (NYSE:BOC) Trading 2.1% Higher – Here’s What Happened

Boston Omaha Corporation (NYSE:BOC)’s stock price traded up 2.1% during mid-day trading on Monday . The company traded as high as $14.61 and last traded at $14.4790. 106,226 shares changed hands during trading, a decline of 3% from the average session volume of 109,455 shares. The stock had previously closed at $14.18.

Wall Street Analyst Weigh In

BOC has been the subject of several analyst reports. 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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Boston Omaha Trading Down 0.9%

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 stock has a market cap of $439.43 million, a P/E ratio of -32.85 and a beta of 0.67. The firm’s fifty day moving average price is $13.84 and its two-hundred day moving average price is $12.80.

Boston Omaha (NYSE:BOC) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) earnings per share (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 the consensus estimate of $29.20 million. Boston Omaha had a negative net margin of 12.10% and a negative return on equity of 2.57%.

Insider Transactions at Boston Omaha

In related news, Director Frank H. Kenan II bought 6,033 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $12.89 per share, with a total value of $77,765.37. Following the completion of the purchase, the director directly owned 315,991 shares of the company’s stock, valued at $4,073,123.99. This trade represents a 1.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey C. Royal bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $12.72 per share, with a total value of $127,200.00. Following the completion of the transaction, the director owned 69,644 shares of the company’s stock, valued at $885,871.68. The trade was a 16.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 81,798 shares of company stock valued at $1,064,068. Corporate insiders own 24.91% of the company’s stock.

Hedge Funds Weigh In On Boston Omaha

Institutional investors have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP bought a new stake in shares of Boston Omaha during the 2nd quarter worth $227,000. Deutsche Bank AG grew its position in Boston Omaha by 593.2% in the fourth quarter. Deutsche Bank AG now owns 17,157 shares of the company’s stock worth $212,000 after acquiring an additional 14,682 shares in the last quarter. 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 valued at $202,000 after acquiring an additional 815 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Boston Omaha by 598.9% in the third quarter. BNP Paribas Financial Markets now owns 14,964 shares of the company’s stock valued at $196,000 after acquiring an additional 12,823 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Boston Omaha during the first quarter valued at about $176,000. Institutional investors own 60.36% of the company’s stock.

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.