Boston Omaha (NYSE:BOC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Boston Omaha from “sell” to “hold,” although Weiss Ratings maintained a “sell” rating and MarketBeat’s consensus remains “Sell.”
• Boston Omaha reported a quarterly loss of $0.05 per share, missing estimates by $0.02, while revenue of $22.2 million fell short of the $29.5 million consensus forecast.
• Insiders purchased 81,798 shares worth approximately $1.06 million over the past 90 days, while institutional investors and hedge funds own 60.36% of the company.

Boston Omaha (NYSE:BOC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Boston Omaha in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

Boston Omaha Price Performance

Shares of BOC opened at $13.94 on Friday. Boston Omaha has a 1 year low of $10.52 and a 1 year high of $15.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market capitalization of $423.62 million, a price-to-earnings ratio of -33.18 and a beta of 0.67. The business has a 50-day moving average of $13.99 and a 200-day moving average of $12.91.

Boston Omaha (NYSE:BOC - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $29.50 million. Boston Omaha had a negative net margin of 12.12% and a negative return on equity of 2.46%.

Insider Activity

In other Boston Omaha news, Director Jeffrey C. Royal bought 10,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $12.72 per share, for a total transaction of $127,200.00. Following the completion of the acquisition, the director owned 69,644 shares in the company, valued at $885,871.68. This trade represents a 16.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank H. Kenan II bought 6,033 shares of the stock in a transaction on Monday, June 1st. The stock was acquired 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 of the company's stock, valued at $4,073,123.99. This represents a 1.95% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 81,798 shares of company stock worth $1,064,068. 24.91% of the stock is owned by corporate insiders.

Institutional Trading of Boston Omaha

Several large investors have recently modified their holdings of BOC. Bank of America Corp DE increased its stake in shares of Boston Omaha by 14.3% in the 1st quarter. Bank of America Corp DE now owns 21,969 shares of the company's stock valued at $257,000 after acquiring an additional 2,756 shares in the last quarter. Stevens Capital Partners boosted its stake in Boston Omaha by 4.8% during the first 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 in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Boston Omaha in the fourth quarter worth $125,000. Susquehanna Portfolio Strategies LLC grew its holdings in Boston Omaha by 106.1% in the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,069 shares of the company's stock worth $434,000 after purchasing an additional 18,055 shares during the period. Finally, Millennium Management LLC increased its stake in Boston Omaha by 110.3% in the fourth quarter. Millennium Management LLC now owns 41,101 shares of the company's stock valued at $508,000 after purchasing an additional 21,556 shares in the last quarter. Institutional investors and hedge funds own 60.36% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source