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

Boston Omaha Corporation (NYSE:BOCGet Free Report) Director Frank Kenan II purchased 10,000 shares of Boston Omaha stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $12.93 per share, for a total transaction of $129,300.00. Following the completion of the transaction, the director directly 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 document filed with the SEC, which is available through this link.

Boston Omaha Stock Up 1.8%

BOC stock traded up $0.23 during midday trading on Monday, hitting $13.11. 200,343 shares of the company’s stock were exchanged, compared to its average volume of 289,987. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.09. Boston Omaha Corporation has a 12-month low of $10.52 and a 12-month high of $14.76. The firm has a 50 day moving average price of $12.16 and a 200-day moving average price of $12.41. The stock has a market capitalization of $398.42 million, a price-to-earnings ratio of -29.79 and a beta of 0.69.

Boston Omaha (NYSE:BOCGet Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) earnings per share (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 business had revenue of $28.25 million for the quarter, compared to analysts’ expectations of $29.20 million.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BOC. Elgethun Capital Management boosted its position in Boston Omaha by 36.1% during the 3rd quarter. Elgethun Capital Management now owns 1,426,608 shares of the company’s stock worth $18,632,000 after acquiring an additional 378,624 shares during the period. Nitor Capital Management LLC acquired a new position in Boston Omaha during the 4th quarter worth $4,581,000. First Manhattan CO. LLC. acquired a new position in Boston Omaha during the 4th quarter worth $4,131,000. Arrowstreet Capital Limited Partnership acquired a new position in Boston Omaha during the 2nd quarter worth $2,214,000. Finally, Jane Street Group LLC boosted its position in Boston Omaha by 104.7% during the 1st quarter. Jane Street Group LLC now owns 87,917 shares of the company’s stock worth $1,282,000 after acquiring an additional 44,968 shares during the period. Institutional investors and hedge funds own 60.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Boston Omaha from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 15th. Wall Street Zen upgraded Boston Omaha from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Get Our Latest Stock Report on Boston Omaha

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.

Recommended Stories

Receive News & Ratings for Boston Omaha Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Omaha and related companies with MarketBeat.com's FREE daily email newsletter.