Insider Buying: Boston Omaha (NYSE:BOC) Director Buys $129,300.00 in Stock

Boston Omaha Corporation (NYSE:BOC) Director Frank Kenan II acquired 10,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $12.93 per share, with a total value of $129,300.00. Following the completion of the purchase, the director owned 309,958 shares in the company, valued at $4,007,756.94. This represents a 3.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Boston Omaha Price Performance

NYSE:BOC opened at $13.34 on Thursday. Boston Omaha Corporation has a 12 month low of $10.52 and a 12 month high of $14.50. The stock has a 50 day moving average of $12.22 and a two-hundred day moving average of $12.43. 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 firm has a market cap of $405.51 million, a P/E ratio of -30.32 and a beta of 0.69.

Boston Omaha (NYSE:BOC) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Boston Omaha had a negative return on equity of 2.57% and a negative net margin of 12.10%.The firm had revenue of $28.25 million for the quarter, compared to analysts’ expectations of $29.20 million.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Boston Omaha

A number of large investors have recently made changes to their positions in the stock. Elgethun Capital Management grew its position in shares of Boston Omaha by 1.9% in the fourth quarter. Elgethun Capital Management now owns 1,453,842 shares of the company’s stock valued at $17,984,000 after purchasing an additional 27,234 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Boston Omaha by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 519,999 shares of the company’s stock valued at $6,434,000 after purchasing an additional 4,435 shares in the last quarter. State Street Corp grew its position in shares of Boston Omaha by 0.3% in the fourth quarter. State Street Corp now owns 468,665 shares of the company’s stock valued at $5,797,000 after purchasing an additional 1,425 shares in the last quarter. Stevens Capital Partners grew 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 purchasing an additional 20,807 shares in the last quarter. Finally, Nitor Capital Management LLC purchased a new stake in shares of Boston Omaha in the fourth quarter valued at approximately $4,581,000. 60.36% of the stock is currently owned by hedge funds and other institutional investors.

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.