Boston Omaha (NYSE:BOC) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

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.

Boston Omaha (NYSE:BOC - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.06), Zacks reports. Boston Omaha had a return on equity of 0.14% and a net margin of 0.68%. The company had revenue of $28.20 million during the quarter, compared to analyst estimates of $29.39 million.

Boston Omaha Price Performance

NYSE BOC traded up $0.01 during trading on Monday, reaching $12.55. 45,775 shares of the company traded hands, compared to its average volume of 137,868. Boston Omaha has a 1-year low of $12.27 and a 1-year high of $16.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.05 and a current ratio of 2.05. The stock's 50 day moving average price is $13.75 and its two-hundred day moving average price is $14.30. The company has a market cap of $394.70 million, a price-to-earnings ratio of 418.47 and a beta of 0.97.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Boston Omaha from a "hold" rating to a "sell" rating in a research report on Saturday.

Insiders Place Their Bets

In related news, major shareholder Omaha Corp Boston sold 52,839 shares of Boston Omaha 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 completion of the transaction, the insider directly owned 8,997,663 shares of the company's stock, valued at $92,675,928.90. This trade represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 142,353 shares of company stock valued at $1,506,593 in the last quarter. Corporate insiders own 23.21% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings 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 during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Boston Omaha during the 1st quarter worth approximately $176,000. Jane Street Group LLC lifted its holdings in Boston Omaha by 104.7% in the first quarter. Jane Street Group LLC now owns 87,917 shares of the company's stock valued at $1,282,000 after buying an additional 44,968 shares during the period. American Century Companies Inc. grew its holdings 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 acquiring an additional 7,018 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Boston Omaha in the 2nd quarter worth $2,214,000. Institutional investors and hedge funds own 60.36% of the company's stock.

About Boston Omaha

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.