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Boston Omaha (NYSE:BOC) Announces Quarterly Earnings Results

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Key Points

  • Boston Omaha reported a quarterly loss of ($0.07) earnings per share, missing the consensus estimate by ($0.06).
  • The company's shares traded at $13.70 with a market capitalization of $430.87 million and a price-to-earnings ratio of 456.67.
  • Insiders sold 173,550 shares of Boston Omaha stock worth nearly $1.88 million over the last 90 days, representing a significant insider transaction volume.
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Boston Omaha (NYSE:BOC - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06), Zacks reports. Boston Omaha had a net margin of 0.77% and a return on equity of 0.15%.

Boston Omaha Price Performance

Shares of BOC traded up $0.10 during trading hours on Wednesday, hitting $13.70. The stock had a trading volume of 129,011 shares, compared to its average volume of 135,961. The company's fifty day moving average is $13.82 and its two-hundred day moving average is $14.34. The stock has a market capitalization of $430.87 million, a price-to-earnings ratio of 456.67 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.22 and a quick ratio of 2.22. Boston Omaha has a 52 week low of $13.02 and a 52 week high of $16.20.

Insider Transactions at Boston Omaha

In related news, major shareholder Omaha Corp Boston sold 52,839 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $10.30, for a total transaction of $544,241.70. Following the transaction, the insider owned 8,997,663 shares in the company, valued at $92,675,928.90. This represents a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 173,550 shares of company stock worth $1,876,277. 23.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BOC. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Boston Omaha in the 2nd quarter valued at approximately $2,214,000. Jane Street Group LLC increased 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 worth $1,282,000 after purchasing an additional 44,968 shares in the last quarter. American Century Companies Inc. increased its stake in Boston Omaha by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 52,247 shares of the company's stock worth $734,000 after purchasing an additional 7,018 shares in the last quarter. AQR Capital Management LLC increased its stake in Boston Omaha by 6.3% during the 1st quarter. AQR Capital Management LLC now owns 13,849 shares of the company's stock worth $202,000 after purchasing an additional 815 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Boston Omaha during the 1st quarter worth approximately $176,000. Institutional investors own 60.36% of the company's stock.

Boston Omaha Company Profile

(Get Free Report)

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.

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Earnings History for Boston Omaha (NYSE:BOC)

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