Boston Omaha Corporation $BOC Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Boston Omaha stake by 61.1% in the first quarter, selling 72,295 shares and retaining 46,016 shares valued at approximately $537,000. Institutional investors collectively own 60.36% of the company.
• Analysts maintain a negative outlook, with Boston Omaha holding an average “Sell” rating. The company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.07 per share and revenue of $28.25 million versus an estimated $29.20 million.
• Company insiders purchased 81,798 shares worth about $1.06 million over the past 90 days, increasing insider ownership to 24.91%. Boston Omaha shares recently opened at $14.44, within a 12-month range of $10.52 to $15.22.

Arrowstreet Capital Limited Partnership trimmed its holdings in Boston Omaha Corporation (NYSE:BOC - Free Report) by 61.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,016 shares of the company's stock after selling 72,295 shares during the period. Arrowstreet Capital Limited Partnership owned 0.15% of Boston Omaha worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in shares of Boston Omaha by 6.3% in the 1st quarter. AQR Capital Management LLC now owns 13,849 shares of the company's stock valued at $202,000 after purchasing an additional 815 shares in the last quarter. Raymond James Financial Inc. raised its stake in Boston Omaha by 6.1% during the second quarter. Raymond James Financial Inc. now owns 14,763 shares of the company's stock valued at $207,000 after buying an additional 843 shares in the last quarter. State Street Corp lifted its holdings in Boston Omaha by 0.3% during the 4th quarter. State Street Corp now owns 468,665 shares of the company's stock worth $5,797,000 after buying an additional 1,425 shares during the last quarter. Flagstone Financial Management grew its position in shares of Boston Omaha by 7.6% in the 4th quarter. Flagstone Financial Management now owns 24,215 shares of the company's stock worth $300,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Boston Omaha by 16.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,117 shares of the company's stock worth $163,000 after acquiring an additional 1,866 shares in the last quarter. 60.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings raised Boston Omaha from a "sell (e+)" rating to a "sell (d)" rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Boston Omaha from a "strong sell" rating to a "sell" rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Boston Omaha presently has an average rating of "Sell".

Insider Activity at Boston Omaha

In related news, Director Jeffrey C. Royal acquired 11,046 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $12.82 per share, for a total transaction of $141,609.72. Following the acquisition, the director owned 21,046 shares in the company, valued at $269,809.72. This trade represents a 110.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank H. Kenan II purchased 34,719 shares of the business's stock in a transaction on Thursday, May 28th. The shares were acquired at an average price of $13.37 per share, with a total value of $464,193.03. Following the purchase, the director owned 299,958 shares of the company's stock, valued at approximately $4,010,438.46. This trade represents a 13.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 81,798 shares of company stock worth $1,064,068. Company insiders own 24.91% of the company's stock.

Boston Omaha Price Performance

Shares of NYSE:BOC opened at $14.44 on Friday. The company's fifty day moving average is $13.92 and its two-hundred day moving average is $12.84. The company has a market cap of $438.98 million, a P/E ratio of -32.82 and a beta of 0.67. Boston Omaha Corporation has a 12-month low of $10.52 and a 12-month high of $15.22. 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 quarterly earnings results on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 company had revenue of $28.25 million for the quarter, compared to analyst estimates of $29.20 million.

Boston Omaha Profile

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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