TD Cowen Cuts Boston Omaha (NYSE:BOC) Price Target to $25.00

Boston Omaha (NYSE:BOC) had its price target decreased by analysts at TD Cowen from $28.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 72.72% from the company’s current price.

Boston Omaha Trading Up 6.4 %

Shares of BOC stock traded up $0.87 on Wednesday, reaching $14.47. The company had a trading volume of 67,313 shares, compared to its average volume of 149,582. The company has a 50-day moving average of $14.40 and a 200-day moving average of $14.61. Boston Omaha has a 12 month low of $12.41 and a 12 month high of $16.29. The stock has a market cap of $455.25 million, a PE ratio of -43.35 and a beta of 0.84. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Boston Omaha (NYSE:BOC) last announced its earnings results on Friday, March 28th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.19. The firm had revenue of $27.93 million during the quarter, compared to analyst estimates of $28.00 million. Boston Omaha had a negative net margin of 9.73% and a negative return on equity of 1.76%.

Insiders Place Their Bets

In related news, major shareholder Omaha Corp Boston sold 7,861 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $11.36, for a total transaction of $89,300.96. Following the completion of the sale, the insider now directly owns 10,820,950 shares in the company, valued at $122,925,992. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 164,196 shares of company stock worth $1,969,833 in the last 90 days. Company insiders own 23.33% of the company’s stock.

Institutional Trading of Boston Omaha

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of Boston Omaha by 188.4% in the 3rd quarter. Barclays PLC now owns 43,830 shares of the company’s stock valued at $652,000 after buying an additional 28,632 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Boston Omaha during the 4th quarter worth approximately $795,000. JPMorgan Chase & Co. boosted its position in Boston Omaha by 44.3% in the third quarter. JPMorgan Chase & Co. now owns 81,476 shares of the company’s stock worth $1,212,000 after purchasing an additional 25,027 shares during the last quarter. Meixler Investment Management Ltd. raised its position in Boston Omaha by 38.8% in the fourth quarter. Meixler Investment Management Ltd. now owns 101,630 shares of the company’s stock worth $1,441,000 after acquiring an additional 28,424 shares during the period. Finally, State Street Corp lifted its stake in Boston Omaha by 1.9% in the third quarter. State Street Corp now owns 492,192 shares of the company’s stock valued at $7,319,000 after purchasing an additional 9,073 shares during the last quarter. 60.36% of the stock is currently owned by institutional investors.

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.