Boston Omaha (NYSE:BOC) Issues Earnings Results

Boston Omaha (NYSE:BOC) issued its earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02), FiscalAI reports. Boston Omaha had a negative return on equity of 2.57% and a negative net margin of 12.10%.The business had revenue of $22.20 million for the quarter, compared to the consensus estimate of $29.50 million.

Boston Omaha Price Performance

BOC stock traded down $0.26 during mid-day trading on Friday, hitting $14.01. 73,592 shares of the stock were exchanged, compared to its average volume of 163,276. The business has a fifty day moving average price of $13.99 and a 200 day moving average price of $12.90. Boston Omaha has a 12 month low of $10.52 and a 12 month high of $15.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.86 and a quick ratio of 1.86. The stock has a market capitalization of $425.75 million, a price-to-earnings ratio of -31.78 and a beta of 0.67.

Analyst Ratings Changes

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

Insider Transactions at Boston Omaha

In other news, Director Frank H. Kenan II bought 34,719 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $13.37 per share, for a total transaction of $464,193.03. Following the completion of the acquisition, the director owned 299,958 shares of the company’s stock, valued at approximately $4,010,438.46. This trade represents a 13.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey C. Royal purchased 11,046 shares of Boston Omaha stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $12.82 per share, for a total transaction of $141,609.72. Following the acquisition, the director owned 21,046 shares in the company, valued at $269,809.72. This trade represents a 110.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 81,798 shares of company stock worth $1,064,068. 24.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nitor Capital Management LLC purchased a new stake in Boston Omaha in the fourth quarter worth $4,581,000. First Manhattan CO. LLC. bought a new stake in shares of Boston Omaha during the 4th quarter valued at $4,131,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Boston Omaha in the 2nd quarter worth about $2,214,000. Jane Street Group LLC increased its stake in shares of 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 acquiring an additional 44,968 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Boston Omaha by 82.8% in the 3rd quarter. Two Sigma Investments LP now owns 96,225 shares of the company’s stock worth $1,259,000 after acquiring an additional 43,588 shares in the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.

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.