Boston Omaha (NYSE:BOC) Trading Up 2.1% - Still a Buy?

Key Points

• Boston Omaha shares rose 2.1% to about $14.48, trading above both its 50-day ($13.80) and 200-day ($12.78) moving averages.
• The company missed quarterly expectations, reporting an EPS loss of $0.07 versus the estimated $0.03 loss and revenue of $28.25 million versus the expected $29.20 million. Analysts maintain a consensus “Sell” rating.
• Insiders purchased 81,798 shares worth approximately $1.06 million over the past three months, while institutional investors and hedge funds own 60.36% of the stock.

Boston Omaha Corporation (NYSE:BOC - Get Free Report) shares rose 2.1% on Monday . The company traded as high as $14.61 and last traded at $14.4790. 106,226 shares were traded during mid-day trading, a decline of 3% from the average session volume of 109,455 shares. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BOC. Wall Street Zen raised Boston Omaha from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Boston Omaha from a "sell (e+)" rating to a "sell (d)" rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Boston Omaha Stock Performance

The firm has a fifty day moving average of $13.80 and a 200-day moving average of $12.78. The stock has a market capitalization of $440.16 million, a price-to-earnings ratio of -32.91 and a beta of 0.67. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.09.

Boston Omaha (NYSE:BOC - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). Boston Omaha had a negative return on equity of 2.57% and a negative net margin of 12.10%.The firm had revenue of $28.25 million for the quarter, compared to analysts' expectations of $29.20 million.

Insider Transactions at Boston Omaha

In other Boston Omaha news, Director Frank H. Kenan II acquired 6,033 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $12.89 per share, with a total value of $77,765.37. Following the purchase, the director owned 315,991 shares in the company, valued at approximately $4,073,123.99. The trade was a 1.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey C. Royal bought 10,000 shares of the company's stock in a transaction on 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 acquisition, the director directly owned 69,644 shares in the company, valued at $885,871.68. This represents a 16.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders 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 the business. Bank of America Corp DE raised its position in shares of Boston Omaha by 14.3% during the 1st quarter. Bank of America Corp DE now owns 21,969 shares of the company's stock worth $257,000 after purchasing an additional 2,756 shares during the last quarter. Stevens Capital Partners grew its holdings in Boston Omaha by 4.8% during the 1st quarter. Stevens Capital Partners now owns 456,551 shares of the company's stock valued at $5,333,000 after buying an additional 20,807 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Boston Omaha during the 4th quarter valued at $125,000. Susquehanna Portfolio Strategies LLC increased its position in Boston Omaha by 106.1% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,069 shares of the company's stock worth $434,000 after buying an additional 18,055 shares in the last quarter. Finally, Millennium Management LLC increased its position in Boston Omaha by 110.3% during the fourth quarter. Millennium Management LLC now owns 41,101 shares of the company's stock worth $508,000 after buying an additional 21,556 shares in the last quarter. 60.36% of the stock is currently 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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