Boston Omaha (NYSE:BOC) Shares Break Below 200 Day Moving Average - What's Next?

Key Points

• Boston Omaha shares fell below their 200-day moving average, trading as low as $12.89 versus the $12.98 average, and last changing hands at $12.93.
• Analyst sentiment remains negative: Boston Omaha carries an average “Sell” rating, although one service recently upgraded the stock to “Hold.”
• The company missed quarterly expectations, reporting an adjusted loss of $0.05 per share versus an expected loss of $0.03 and revenue of $22.2 million against a $29.5 million consensus estimate.

Shares of Boston Omaha Corporation (NYSE:BOC - Get Free Report) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $12.98 and traded as low as $12.89. Boston Omaha shares last traded at $12.93, with a volume of 171,518 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Boston Omaha in a research note on Wednesday, August 12th. Wall Street Zen raised Boston Omaha from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Boston Omaha presently has an average rating of "Sell".

Boston Omaha Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.05 and a current ratio of 2.05. The business has a 50-day simple moving average of $13.27 and a 200 day simple moving average of $12.98. The firm has a market cap of $389.54 million, a P/E ratio of -30.78 and a beta of 0.72.

Boston Omaha (NYSE:BOC - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.05) EPS 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 company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $29.50 million.

Institutional Trading of Boston Omaha

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stevens Capital Partners lifted its position in shares of Boston Omaha by 4.8% in the first quarter. Stevens Capital Partners now owns 456,551 shares of the company's stock valued at $5,333,000 after acquiring an additional 20,807 shares in the last quarter. Bank of America Corp DE grew its position in shares of Boston Omaha by 14.3% during the first 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 in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Boston Omaha during the third quarter worth about $26,000. 60.36% of the stock is owned by hedge funds and other institutional investors.

About Boston Omaha

Boston Omaha Corporation NYSE: BOC is a holding company with operating businesses in outdoor advertising, broadband services and surety insurance. The company focuses on acquiring and developing businesses that it believes can generate recurring cash flow and support long-term growth.

Through its billboard operations, Boston Omaha owns and operates outdoor advertising displays that provide businesses with space to promote products and services. Its broadband operations provide internet connectivity, primarily to customers in underserved or rural markets.

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