Key Points
- Director Frank Kenan II bought 34,719 shares of Boston Omaha stock at an average price of $13.37, a purchase worth about $464,193. The transaction increased his holdings by 13.09% to 299,958 shares.
- Boston Omaha recently reported quarterly results that missed analyst expectations, posting EPS of -$0.07 versus an expected -$0.03 and revenue of $28.25 million versus $29.20 million forecast.
- The stock has traded between $10.52 and $14.76 over the past 12 months and recently opened at $13.11. Despite some institutional buying, analysts still maintain an average Sell rating on the shares.
Boston Omaha Corporation (NYSE:BOC - Get Free Report) Director Frank Kenan II purchased 6,033 shares of the company's stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $12.89 per share, with a total value of $77,765.37. Following the purchase, the director owned 315,991 shares of the company's stock, valued at approximately $4,073,123.99. The trade was a 1.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Boston Omaha Trading Up 1.8%
Shares of BOC stock opened at $13.11 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $12.16 and a two-hundred day moving average price of $12.41. Boston Omaha Corporation has a 12-month low of $10.52 and a 12-month high of $14.76. The firm has a market cap of $398.42 million, a P/E ratio of -29.79 and a beta of 0.69.
Boston Omaha (NYSE:BOC - Get Free Report) last issued its quarterly earnings results 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). Boston Omaha had a negative return on equity of 2.57% and a negative net margin of 12.10%.The firm had revenue of $28.25 million for the quarter, compared to the consensus estimate of $29.20 million.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in Boston Omaha by 14.3% during the 1st quarter. Bank of America Corp DE now owns 21,969 shares of the company's stock valued at $257,000 after purchasing an additional 2,756 shares during the period. Stevens Capital Partners grew its holdings in shares of Boston Omaha by 4.8% during the 1st quarter. Stevens Capital Partners now owns 456,551 shares of the company's stock worth $5,333,000 after acquiring an additional 20,807 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Boston Omaha during the 4th quarter worth approximately $125,000. Susquehanna Portfolio Strategies LLC grew its holdings in shares of Boston Omaha by 106.1% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 35,069 shares of the company's stock worth $434,000 after acquiring an additional 18,055 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Boston Omaha by 110.3% during the 4th quarter. Millennium Management LLC now owns 41,101 shares of the company's stock worth $508,000 after acquiring an additional 21,556 shares during the period. Hedge funds and other institutional investors own 60.36% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on BOC. Weiss Ratings raised Boston Omaha from a "sell (e+)" rating to a "sell (d)" rating in a research note on Friday, May 15th. Wall Street Zen raised Boston Omaha from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".
Get Our Latest Stock Analysis on Boston Omaha
About Boston Omaha
(
Get Free Report)
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.
Further Reading
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