Jeffrey Royal Acquires 10,000 Shares of Boston Omaha (NYSE:BOC) Stock

Boston Omaha Corporation (NYSE:BOC) Director Jeffrey Royal acquired 10,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $12.40 per share, with a total value of $124,000.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at $124,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Boston Omaha Stock Up 6.2%

Shares of Boston Omaha stock opened at $13.37 on Friday. 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 $406.57 million, a P/E ratio of -30.40 and a beta of 0.67. Boston Omaha Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $15.10. The business has a 50-day moving average price of $12.12 and a 200 day moving average price of $12.41.

Boston Omaha (NYSE:BOC) last announced its quarterly earnings data 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). The firm had revenue of $28.25 million during the quarter, compared to the consensus estimate of $29.20 million. Boston Omaha had a negative net margin of 12.10% and a negative return on equity of 2.57%.

Hedge Funds Weigh In On Boston Omaha

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOC. Elgethun Capital Management grew its holdings in Boston Omaha by 36.1% in the 3rd quarter. Elgethun Capital Management now owns 1,426,608 shares of the company’s stock worth $18,632,000 after buying an additional 378,624 shares in the last quarter. Nitor Capital Management LLC bought a new position in Boston Omaha in the 4th quarter worth approximately $4,581,000. First Manhattan CO. LLC. bought a new position in Boston Omaha in the 4th quarter worth approximately $4,131,000. Arrowstreet Capital Limited Partnership bought a new position in Boston Omaha in the 2nd quarter worth approximately $2,214,000. Finally, Jane Street Group LLC grew 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 buying an additional 44,968 shares in the last quarter. 60.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.