Boston Omaha (NYSE:BOC) Raised to “Hold” at Wall Street Zen

Boston Omaha (NYSE:BOC) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Boston Omaha in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Boston Omaha presently has a consensus rating of “Sell”.

Boston Omaha Stock Performance

Shares of BOC stock opened at $13.94 on Friday. The company’s fifty day simple moving average is $13.99 and its 200-day simple moving average is $12.91. Boston Omaha has a 52 week low of $10.52 and a 52 week high of $15.22. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.09. The company has a market cap of $423.62 million, a PE ratio of -33.18 and a beta of 0.67.

Boston Omaha (NYSE:BOC) last posted its 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 net margin of 12.12% and a negative return on equity of 2.49%. The business had revenue of $22.20 million for the quarter, compared to analyst estimates of $29.50 million.

Insiders Place Their Bets

In other news, Director Frank H. Kenan II purchased 6,033 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average price of $12.89 per share, with a total value of $77,765.37. Following the purchase, the director directly owned 315,991 shares of the company’s stock, valued at approximately $4,073,123.99. This represents a 1.95% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey C. Royal acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $12.72 per share, for a total transaction of $127,200.00. Following the acquisition, the director directly owned 69,644 shares in the company, valued at $885,871.68. This represents a 16.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 81,798 shares of company stock valued at $1,064,068. Company insiders own 24.91% of the company’s stock.

Institutional Trading of Boston Omaha

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Boston Omaha in the second quarter worth about $50,000. Pittenger & Anderson Inc. purchased a new stake in Boston Omaha during the 4th quarter worth approximately $53,000. Mercer Global Advisors Inc. ADV purchased a new stake in Boston Omaha during the 4th quarter worth approximately $125,000. Jump Financial LLC acquired a new position in shares of Boston Omaha in the 4th quarter valued at approximately $138,000. Finally, Verition Fund Management LLC acquired a new position in shares of Boston Omaha in the 3rd quarter valued at approximately $155,000. 60.36% of the stock is owned by hedge funds and other institutional investors.

Boston Omaha Company 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.