Boston Omaha (NYSE:BOC) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Boston Omaha (NYSE:BOC) announced its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02), FiscalAI reports. The company had revenue of $22.20 million for the quarter, compared to the consensus estimate of $29.50 million. Boston Omaha had a negative net margin of 12.10% and a negative return on equity of 2.57%.

Boston Omaha Price Performance

Shares of Boston Omaha stock traded down $0.13 on Thursday, hitting $14.30. 74,210 shares of the company traded hands, compared to its average volume of 163,883. Boston Omaha has a 12-month low of $10.52 and a 12-month high of $15.22. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $434.69 million, a P/E ratio of -32.50 and a beta of 0.67. The firm’s 50-day simple moving average is $13.98 and its 200 day simple moving average is $12.88.

Insider Buying and Selling at Boston Omaha

In other news, Director Frank H. Kenan II bought 34,719 shares of Boston Omaha stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average price of $13.37 per share, with a total value of $464,193.03. Following the completion of the purchase, the director directly owned 299,958 shares in the company, valued at $4,010,438.46. The trade was a 13.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey C. Royal purchased 11,046 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average cost of $12.82 per share, with a total value of $141,609.72. Following the purchase, the director owned 21,046 shares of the company’s stock, valued at approximately $269,809.72. The trade was a 110.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 81,798 shares of company stock valued at $1,064,068 over the last quarter. 24.91% of the stock is owned by company insiders.

Institutional Trading of Boston Omaha

Hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new position in Boston Omaha during the second quarter valued at approximately $50,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Boston Omaha in the 4th quarter worth approximately $125,000. Jump Financial LLC purchased a new stake in shares of Boston Omaha in the 4th quarter valued at $138,000. Verition Fund Management LLC purchased a new stake in Boston Omaha during the third quarter valued at about $155,000. Finally, MetLife Investment Management LLC boosted its holdings in Boston Omaha by 38.7% during the 4th quarter. MetLife Investment Management LLC now owns 12,826 shares of the company’s stock valued at $159,000 after acquiring an additional 3,576 shares during the period. Institutional investors own 60.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings upgraded shares of Boston Omaha from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 15th. Wall Street Zen raised shares of Boston Omaha from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Boston Omaha

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.