Insider Buying: Boston Omaha (NYSE:BOC) Director Buys 10,000 Shares of Stock

by · The Markets Daily

Boston Omaha Corporation (NYSE:BOC – Get Free Report) Director Frank Kenan II purchased 10,000 shares of Boston Omaha stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $12.93 per share, with a total value of $129,300.00. Following the transaction, the director directly owned 309,958 shares in the company, valued at $4,007,756.94. This trade represents a 3.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boston Omaha Stock Performance

BOC stock traded up $0.23 during trading on Monday, reaching $13.11. 200,343 shares of the company’s stock were exchanged, compared to its average volume of 289,987. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.09. The firm has a market cap of $398.42 million, a PE ratio of -29.79 and a beta of 0.69. The company’s fifty day moving average price is $12.16 and its 200-day moving average price is $12.41. Boston Omaha Corporation has a 1-year low of $10.52 and a 1-year high of $14.76.

Boston Omaha (NYSE:BOC – Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Boston Omaha had a negative net margin of 12.10% and a negative return on equity of 2.57%. The firm had revenue of $28.25 million for the quarter, compared to the consensus estimate of $29.20 million.

Institutional Investors Weigh In On Boston Omaha

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in Boston Omaha by 6.3% in the 1st quarter. AQR Capital Management LLC now owns 13,849 shares of the company’s stock worth $202,000 after acquiring an additional 815 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Boston Omaha in the 1st quarter worth approximately $176,000. Jane Street Group LLC lifted its holdings in Boston Omaha by 104.7% in the 1st quarter. Jane Street Group LLC now owns 87,917 shares of the company’s stock worth $1,282,000 after purchasing an additional 44,968 shares during the last quarter. American Century Companies Inc. lifted its holdings in Boston Omaha by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 52,247 shares of the company’s stock worth $734,000 after purchasing an additional 7,018 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Boston Omaha in the 2nd quarter worth approximately $2,214,000. 60.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BOC shares. Wall Street Zen raised Boston Omaha from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Boston Omaha from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

View Our Latest Stock Analysis on BOC

About Boston Omaha

(Get Free Report)

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.

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