Ironvine Capital Partners LLC Decreases Stake in Boston Omaha Corporation $BOC

Key Points

• Ironvine Capital Partners LLC reduced its stake in Boston Omaha Corporation by 6.1%, now holding approximately 465,733 shares valued at $6.79 million.
• Boston Omaha's stock received a downgrade from a "hold" to a "sell" rating by Wall Street Zen, although the stock maintains an average rating of "Moderate Buy" with a target price of $20.00.
• The company reported a net loss of $0.07 per share in its latest earnings report, missing estimates and generating revenue of $28.20 million, below expectations of $29.39 million.

Ironvine Capital Partners LLC cut its position in Boston Omaha Corporation (NYSE:BOC - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 465,733 shares of the company's stock after selling 30,058 shares during the period. Boston Omaha accounts for 0.7% of Ironvine Capital Partners LLC's holdings, making the stock its 28th largest position. Ironvine Capital Partners LLC owned about 1.48% of Boston Omaha worth $6,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in 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 during the last quarter. Flagstone Financial Management lifted its position in shares of Boston Omaha by 11.9% during the 1st quarter. Flagstone Financial Management now owns 16,115 shares of the company's stock worth $235,000 after purchasing an additional 1,719 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Boston Omaha by 13.5% during the fourth quarter. Wells Fargo & Company MN now owns 18,317 shares of the company's stock worth $260,000 after purchasing an additional 2,175 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Boston Omaha by 7.5% during the first quarter. American Century Companies Inc. now owns 45,229 shares of the company's stock worth $659,000 after purchasing an additional 3,160 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Boston Omaha by 143.7% during the first quarter. Covestor Ltd now owns 5,395 shares of the company's stock worth $79,000 after purchasing an additional 3,181 shares in the last quarter. 60.36% of the stock is currently owned by institutional investors and hedge funds.

Boston Omaha Stock Performance

Boston Omaha stock traded down $0.06 during midday trading on Wednesday, hitting $13.34. 56,557 shares of the company's stock were exchanged, compared to its average volume of 148,702. Boston Omaha Corporation has a 12-month low of $12.27 and a 12-month high of $16.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market cap of $419.54 million, a price-to-earnings ratio of 444.81 and a beta of 0.99. The firm's 50 day simple moving average is $13.48 and its 200 day simple moving average is $14.11.

Boston Omaha (NYSE:BOC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $29.39 million.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Boston Omaha from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Boston Omaha currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

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.