Boston Omaha Corporation (NYSE:BOC – Get Free Report) shares rose 2.1% during trading on Monday . The company traded as high as $14.61 and last traded at $14.4790. Approximately 106,226 shares traded hands during trading, a decline of 3% from the average session volume of 109,455 shares. The stock had previously closed at $14.18.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Weiss Ratings raised 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 research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.
View Our Latest Stock Analysis on BOC
Boston Omaha Price Performance
Boston Omaha (NYSE:BOC – Get Free Report) last issued its quarterly earnings results 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 company had revenue of $28.25 million for the quarter, compared to analyst estimates of $29.20 million.
Insiders Place Their Bets
In other news, Director Jeffrey C. Royal acquired 11,046 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $12.82 per share, for a total transaction of $141,609.72. Following the acquisition, the director directly owned 21,046 shares in the company, valued at approximately $269,809.72. This represents a 110.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank H. Kenan II bought 34,719 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $13.37 per share, for a total transaction of $464,193.03. Following the completion of the transaction, the director directly owned 299,958 shares in the company, valued at approximately $4,010,438.46. This trade represents a 13.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 81,798 shares of company stock worth $1,064,068. 24.91% of the stock is owned by company insiders.
Institutional Investors Weigh In On Boston Omaha
A number of institutional investors have recently added to or reduced their stakes in BOC. State of Wyoming purchased a new stake in Boston Omaha during the second quarter valued at about $50,000. Pittenger & Anderson Inc. purchased a new position in shares of Boston Omaha in the 4th quarter worth about $53,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Boston Omaha in the 4th quarter valued at about $125,000. Jump Financial LLC acquired a new position in shares of Boston Omaha in the 4th quarter valued at about $138,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Boston Omaha during the 3rd quarter worth about $155,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.
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.
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