Boston Omaha (NYSE:BOC) Director Frank Kenan II Buys 6,033 Shares of Stock

Boston Omaha Corporation (NYSE:BOC) Director Frank Kenan II bought 6,033 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $12.89 per share, with a total value of $77,765.37. Following the completion of the transaction, the director directly owned 315,991 shares of the company’s stock, valued at approximately $4,073,123.99. The trade was a 1.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Boston Omaha Stock Performance

NYSE:BOC opened at $13.11 on Tuesday. 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 business has a fifty day simple moving average of $12.16 and a two-hundred day simple moving average of $12.41. Boston Omaha Corporation has a 1 year low of $10.52 and a 1 year high of $14.76. The company has a market capitalization of $398.42 million, a P/E ratio of -29.79 and a beta of 0.69.

Boston Omaha (NYSE:BOC) last released its earnings results on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $28.25 million during the quarter, compared to analysts’ expectations of $29.20 million.

Hedge Funds Weigh In On Boston Omaha

Several hedge funds have recently made changes to their positions in BOC. Bank of America Corp DE grew its position in Boston Omaha by 14.3% during the first quarter. Bank of America Corp DE now owns 21,969 shares of the company’s stock worth $257,000 after buying an additional 2,756 shares in the last quarter. Stevens Capital Partners grew its position in Boston Omaha by 4.8% during the first quarter. Stevens Capital Partners now owns 456,551 shares of the company’s stock worth $5,333,000 after buying an additional 20,807 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Boston Omaha during the fourth quarter worth about $125,000. Susquehanna Portfolio Strategies LLC grew its position in Boston Omaha by 106.1% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,069 shares of the company’s stock worth $434,000 after buying an additional 18,055 shares in the last quarter. Finally, Millennium Management LLC grew its position in Boston Omaha by 110.3% during the fourth quarter. Millennium Management LLC now owns 41,101 shares of the company’s stock worth $508,000 after buying an additional 21,556 shares in the last quarter. 60.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.