Ironvine Capital Partners LLC Lowers Position in Boston Omaha Corporation $BOC

Key Points

• Ironvine Capital Partners cut its Boston Omaha stake by 78.9% in the second quarter, selling 335,686 shares and retaining 89,758 shares valued at approximately $1.22 million. Institutional investors collectively own 60.36% of BOC.
• Boston Omaha reported quarterly revenue of $22.2 million and an adjusted loss of $0.05 per share, missing analyst expectations of $29.5 million in revenue and a $0.03 loss per share.
• Analyst sentiment remains weak: Weiss Ratings reiterated a “sell” rating, while Wall Street Zen upgraded the stock to “hold”; MarketBeat reports an average rating of “Sell.”

Ironvine Capital Partners LLC trimmed its holdings in shares of Boston Omaha Corporation (NYSE:BOC - Free Report) by 78.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,758 shares of the company's stock after selling 335,686 shares during the quarter. Ironvine Capital Partners LLC owned about 0.30% of Boston Omaha worth $1,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings 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 grew its holdings in shares of 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 purchasing an additional 20,807 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Boston Omaha in the fourth quarter worth approximately $125,000. Susquehanna Portfolio Strategies LLC increased its position in shares of 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 last quarter. Finally, Millennium Management LLC raised 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. 60.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BOC has been the subject of several research analyst reports. Weiss Ratings reiterated a "sell (d)" rating on shares of Boston Omaha in a research report on Wednesday, August 12th. Wall Street Zen raised shares of Boston Omaha from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Boston Omaha currently has an average rating of "Sell".

Boston Omaha Price Performance

BOC stock opened at $13.73 on Wednesday. The firm has a market cap of $413.68 million, a P/E ratio of -32.69 and a beta of 0.65. The firm's fifty day moving average is $14.10 and its 200 day moving average is $13.02. Boston Omaha Corporation has a 52 week low of $10.52 and a 52 week high of $15.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.05 and a current ratio of 2.05.

Boston Omaha (NYSE:BOC - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Boston Omaha had a negative return on equity of 2.49% and a negative net margin of 12.12%.The business had revenue of $22.20 million during the quarter, compared to the consensus estimate of $29.50 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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