Boston Omaha (NYSE:BOC) Announces Quarterly Earnings Results

Key Points

• Boston Omaha missed quarterly expectations: The company reported an adjusted loss of $0.05 per share versus the $0.03 loss analysts expected, while revenue of $22.20 million fell short of the $29.50 million consensus estimate.
• Shares traded near recent highs at $14.30, with a market capitalization of approximately $434.7 million. The stock has a 52-week range of $10.52 to $15.22, but the company reported negative margins and return on equity.
• Analyst sentiment remains negative, with Boston Omaha carrying an average “Sell” rating. Meanwhile, insiders purchased 81,798 shares worth about $1.06 million over the past 90 days, and institutional investors own 60.36% of the stock.

Boston Omaha (NYSE:BOC - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02), FiscalAI reports. Boston Omaha had a negative net margin of 12.10% and a negative return on equity of 2.57%. The firm had revenue of $22.20 million for the quarter, compared to analyst estimates of $29.50 million.

Boston Omaha Stock Performance

NYSE:BOC traded down $0.13 during mid-day trading on Thursday, hitting $14.30. The stock had a trading volume of 74,210 shares, compared to its average volume of 163,883. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $13.98 and a 200-day simple moving average of $12.88. The stock has a market capitalization of $434.69 million, a price-to-earnings ratio of -32.50 and a beta of 0.67. Boston Omaha has a 52 week low of $10.52 and a 52 week high of $15.22.

Analysts Set New Price Targets

BOC has been the subject of a number of research reports. 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 raised Boston Omaha from a "sell (e+)" rating to a "sell (d)" rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Boston Omaha presently has an average rating of "Sell".

Insider Activity at Boston Omaha

In other Boston Omaha news, Director Frank H. Kenan II purchased 6,033 shares of the business's stock in a transaction dated Monday, June 1st. The shares were bought at an average price of $12.89 per share, with a total value of $77,765.37. Following the completion of the acquisition, the director owned 315,991 shares in the company, valued at approximately $4,073,123.99. This represents a 1.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey C. Royal acquired 10,000 shares of Boston Omaha stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average price of $12.72 per share, with a total value of $127,200.00. Following the completion of the transaction, the director owned 69,644 shares of the company's stock, valued at approximately $885,871.68. This trade represents a 16.77% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 81,798 shares of company stock worth $1,064,068 in the last 90 days. 24.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BOC. State of Wyoming bought a new stake in shares of Boston Omaha during the 2nd quarter worth about $50,000. Mercer Global Advisors Inc. ADV bought a new stake in Boston Omaha during the fourth quarter worth approximately $125,000. Jump Financial LLC bought a new stake in Boston Omaha during the fourth quarter worth approximately $138,000. Verition Fund Management LLC bought a new stake in shares of Boston Omaha in the 3rd quarter worth $155,000. Finally, MetLife Investment Management LLC lifted its holdings in Boston Omaha by 38.7% in the 4th quarter. MetLife Investment Management LLC now owns 12,826 shares of the company's stock valued at $159,000 after acquiring an additional 3,576 shares during the last quarter. 60.36% of the stock is owned by institutional investors and hedge funds.

About Boston Omaha

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.

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