Elgethun Capital Management Raises Stock Position in Boston Omaha Corporation (NYSE:BOC)

Key Points

• Elgethun Capital Management raised its stake in Boston Omaha Corporation by 80.4%, now holding over 1 million shares, which makes it the firm's 7th largest investment.
• A significant number of hedge funds, including Raymond James Financial and JPMorgan Chase & Co., have recently increased their positions in Boston Omaha, indicating strong institutional interest.
• In its latest earnings report, Boston Omaha missed EPS estimates but exceeded revenue expectations, reporting a net margin of 0.77% and a return on equity of 0.15%.

Elgethun Capital Management lifted its position in shares of Boston Omaha Corporation (NYSE:BOC - Free Report) by 80.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,009,471 shares of the company's stock after acquiring an additional 449,986 shares during the period. Boston Omaha accounts for 3.3% of Elgethun Capital Management's portfolio, making the stock its 7th biggest holding. Elgethun Capital Management owned about 3.21% of Boston Omaha worth $14,718,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Boston Omaha by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,471,085 shares of the company's stock worth $20,860,000 after purchasing an additional 85,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in Boston Omaha by 58.1% in the 4th quarter. JPMorgan Chase & Co. now owns 128,827 shares of the company's stock valued at $1,827,000 after acquiring an additional 47,351 shares during the last quarter. Jane Street Group LLC lifted its holdings in Boston Omaha by 152.5% in the 4th quarter. Jane Street Group LLC now owns 42,949 shares of the company's stock valued at $609,000 after acquiring an additional 25,942 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Boston Omaha in the 4th quarter valued at about $301,000. Finally, Northern Trust Corp lifted its holdings in Boston Omaha by 9.0% in the 4th quarter. Northern Trust Corp now owns 221,758 shares of the company's stock valued at $3,145,000 after acquiring an additional 18,336 shares during the last quarter. Institutional investors own 60.36% of the company's stock.

Boston Omaha Trading Down 0.7%

NYSE BOC traded down $0.09 on Friday, hitting $13.15. 149,254 shares of the company were exchanged, compared to its average volume of 146,003. The company's 50 day moving average price is $13.86 and its 200-day moving average price is $14.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a market capitalization of $413.57 million, a P/E ratio of 438.33 and a beta of 0.97. Boston Omaha Corporation has a twelve month low of $13.02 and a twelve month high of $16.20.

Boston Omaha (NYSE:BOC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). The company had revenue of $27.73 million for the quarter, compared to analyst estimates of $27.14 million. Boston Omaha had a return on equity of 0.15% and a net margin of 0.77%.

Insider Transactions at Boston Omaha

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 transaction of $544,241.70. Following the sale, the insider owned 8,997,663 shares in the company, valued at approximately $92,675,928.90. The trade was a 0.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 173,550 shares of company stock worth $1,876,277. 23.21% of the stock is currently owned by insiders.

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.