Boston Omaha (NYSE:BOC) Director Buys $77,765.37 in Stock

Boston Omaha Corporation (NYSE:BOC) Director Frank Kenan II bought 6,033 shares of the firm’s stock in a transaction dated 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 acquisition, the director directly owned 315,991 shares in the company, valued at approximately $4,073,123.99. This trade represents a 1.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Boston Omaha Trading Down 2.2%

NYSE BOC opened at $13.34 on Thursday. The firm has a market capitalization of $405.51 million, a price-to-earnings ratio of -30.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.86 and a current ratio of 1.86. Boston Omaha Corporation has a one year low of $10.52 and a one year high of $14.50. The company’s 50 day moving average price is $12.22 and its 200 day moving average price is $12.43.

Boston Omaha (NYSE:BOC) last released 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 during 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%.

Institutional Investors Weigh In On Boston Omaha

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Boston Omaha by 14.3% during the first quarter. Bank of America Corp DE now owns 21,969 shares of the company’s stock worth $257,000 after purchasing an additional 2,756 shares during the last quarter. Stevens Capital Partners increased its holdings in Boston Omaha by 4.8% in the first quarter. Stevens Capital Partners now owns 456,551 shares of the company’s stock valued at $5,333,000 after buying an additional 20,807 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Boston Omaha in the fourth quarter valued at about $125,000. Susquehanna Portfolio Strategies LLC raised its stake in Boston Omaha by 106.1% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,069 shares of the company’s stock valued at $434,000 after buying an additional 18,055 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Boston Omaha by 110.3% during the fourth quarter. Millennium Management LLC now owns 41,101 shares of the company’s stock valued at $508,000 after buying an additional 21,556 shares in the last quarter. Institutional investors own 60.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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 upgraded Boston Omaha from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.