Boston Omaha (NYSE:BOC) Stock Price Down 0.8% - Here's What Happened

Key Points

• Boston Omaha shares fell 0.8% to $13.3840 in mid-day trading, with volume rising 16% above the average; the company’s market capitalization is approximately $403.3 million.
• The company’s latest quarterly results missed expectations, reporting a loss of $0.05 per share versus the $0.03 consensus estimate and revenue of $22.2 million versus expectations of $29.5 million.
• Analyst sentiment remains negative, with Boston Omaha carrying an average “Sell” rating, although one research firm recently upgraded the stock to “Hold.” Institutional investors own approximately 60.4% of the company.

Boston Omaha Corporation (NYSE:BOC - Get Free Report)'s stock price traded down 0.8% during mid-day trading on Wednesday . The stock traded as low as $13.26 and last traded at $13.3840. Approximately 181,526 shares changed hands during trading, an increase of 16% from the average daily volume of 155,849 shares. The stock had previously closed at $13.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen raised Boston Omaha from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d)" rating on shares of Boston Omaha in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Boston Omaha Trading Down 0.8%

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $403.26 million, a P/E ratio of -31.87 and a beta of 0.65. The firm has a fifty day moving average price of $13.96 and a 200-day moving average price of $13.16.

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

Institutional Trading of Boston Omaha

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in Boston Omaha by 127.3% in the fourth quarter. Global Retirement Partners LLC now owns 17,053 shares of the company's stock valued at $211,000 after acquiring an additional 9,551 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Boston Omaha by 14.3% during the 1st 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 during the last quarter. Stevens Capital Partners increased its stake in shares of Boston Omaha by 4.8% during the 1st 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 during the last quarter. Finally, Elgethun Capital Management raised its holdings in shares of Boston Omaha by 1.9% in the 4th quarter. Elgethun Capital Management now owns 1,453,842 shares of the company's stock worth $17,984,000 after purchasing an additional 27,234 shares during the period. Hedge funds and other institutional investors own 60.36% of the company's stock.

About Boston Omaha

Boston Omaha Corporation NYSE: BOC is a holding company that owns and operates businesses in several industries. Its primary activities include outdoor billboard advertising, commercial surety insurance, broadband services and asset management. The company generally seeks to acquire and develop businesses with durable operations and long-term growth potential.

Through its outdoor advertising operations, Boston Omaha provides billboard advertising services to businesses and organizations across multiple U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.