Boston Omaha (NYSE:BOC) Price Target Lowered to $25.00 at TD Cowen

Boston Omaha (NYSE:BOC) had its target price reduced by TD Cowen from $28.00 to $25.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Boston Omaha Stock Down 1.2 %

Shares of Boston Omaha stock traded down $0.18 during trading hours on Wednesday, hitting $14.12. 86,001 shares of the company’s stock traded hands, compared to its average volume of 131,542. Boston Omaha has a twelve month low of $12.41 and a twelve month high of $16.29. The company has a market cap of $443.96 million, a PE ratio of -42.77 and a beta of 0.84. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $14.39 and a 200-day simple moving average of $14.61.

Boston Omaha (NYSE:BOC) last issued its quarterly earnings data on Friday, March 28th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.19. Boston Omaha had a negative return on equity of 1.76% and a negative net margin of 9.73%. The firm had revenue of $27.93 million during the quarter, compared to analyst estimates of $28.00 million.

Insider Activity at Boston Omaha

In other news, major shareholder Omaha Corp Boston sold 7,861 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $11.36, for a total value of $89,300.96. Following the completion of the sale, the insider now owns 10,820,950 shares of the company’s stock, valued at approximately $122,925,992. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 255,156 shares of company stock valued at $2,984,309 over the last ninety days. Corporate insiders own 23.33% of the company’s stock.

Hedge Funds Weigh In On Boston Omaha

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Boston Omaha by 61.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,474 shares of the company’s stock worth $200,000 after buying an additional 5,107 shares during the last quarter. State Street Corp lifted its stake in Boston Omaha by 1.9% during the third quarter. State Street Corp now owns 492,192 shares of the company’s stock worth $7,319,000 after purchasing an additional 9,073 shares during the last quarter. Barclays PLC boosted its holdings in Boston Omaha by 188.4% in the third quarter. Barclays PLC now owns 43,830 shares of the company’s stock worth $652,000 after purchasing an additional 28,632 shares during the period. Geode Capital Management LLC increased its stake in Boston Omaha by 4.2% during the third quarter. Geode Capital Management LLC now owns 533,777 shares of the company’s stock valued at $7,939,000 after purchasing an additional 21,682 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Boston Omaha by 44.3% during the third quarter. JPMorgan Chase & Co. now owns 81,476 shares of the company’s stock worth $1,212,000 after purchasing an additional 25,027 shares during the period. 60.36% of the stock is currently owned by institutional investors and hedge funds.

Boston Omaha Company Profile

Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States. It is also involved in the surety insurance and related brokerage, broadband, and asset management businesses. The company was formerly known as REO Plus, Inc and changed its name to Boston Omaha Corporation in March 2015.