Boston Omaha (NYSE:BOC) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Boston Omaha has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling potential investor caution.
• For the recent quarter, Boston Omaha reported an earnings per share of ($0.07), missing analyst expectations of ($0.01) by a margin of $0.06.
• Insider activity includes a major shareholder selling 52,839 shares at an average price of $10.30, indicating a 0.58% decrease in their holdings.

Wall Street Zen downgraded shares of Boston Omaha (NYSE:BOC - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Boston Omaha Stock Performance

NYSE:BOC traded down $0.1250 during mid-day trading on Friday, reaching $12.5550. The company's stock had a trading volume of 241,351 shares, compared to its average volume of 169,380. Boston Omaha has a 12-month low of $12.27 and a 12-month high of $16.20. The firm's fifty day moving average price is $13.66 and its two-hundred day moving average price is $14.26. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.08. The stock has a market cap of $394.85 million, a P/E ratio of 418.64 and a beta of 0.97.

Boston Omaha (NYSE:BOC - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.06). Boston Omaha had a return on equity of 0.14% and a net margin of 0.68%.The business had revenue of $28.20 million during the quarter, compared to analysts' expectations of $29.39 million.

Insiders Place Their Bets

In other Boston Omaha news, major shareholder Omaha Corp Boston sold 52,839 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $10.30, for a total value of $544,241.70. Following the completion of the transaction, the insider owned 8,997,663 shares of the company's stock, valued at approximately $92,675,928.90. The trade was a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 137,810 shares of company stock valued at $1,453,811. 23.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Omaha

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in shares of Boston Omaha during the 2nd quarter valued at about $50,000. Covestor Ltd increased its position in shares of Boston Omaha by 143.7% during the 1st quarter. Covestor Ltd now owns 5,395 shares of the company's stock valued at $79,000 after purchasing an additional 3,181 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Boston Omaha during the 1st quarter valued at about $142,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Boston Omaha during the 4th quarter valued at about $146,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Boston Omaha during the 1st quarter valued at about $176,000. Hedge funds and other institutional investors 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.