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

Boston Omaha Corporation (NYSE:BOC) Director Jeffrey Royal purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of $12.72 per share, with a total value of $127,200.00. Following the completion of the acquisition, the director owned 69,644 shares in the company, valued at $885,871.68. This represents a 16.77% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Boston Omaha Stock Down 0.9%

Shares of BOC traded down $0.12 during midday trading on Wednesday, reaching $12.63. 173,748 shares of the company were exchanged, compared to its average volume of 165,938. The stock has a 50-day moving average price of $12.09 and a 200-day moving average price of $12.40. The company has a market cap of $383.97 million, a price-to-earnings ratio of -28.70 and a beta of 0.67. Boston Omaha Corporation has a 1-year low of $10.52 and a 1-year high of $15.10. 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 (NYSE:BOC) last issued its earnings results 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). 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 during the quarter, compared to analysts’ expectations of $29.20 million.

Hedge Funds Weigh In On Boston Omaha

Large investors have recently added to or reduced their stakes in the company. Elgethun Capital Management increased its stake in Boston Omaha by 36.1% during the third quarter. Elgethun Capital Management now owns 1,426,608 shares of the company’s stock valued at $18,632,000 after purchasing an additional 378,624 shares during the last quarter. State of Wyoming acquired a new stake in shares of Boston Omaha during the second quarter worth $50,000. Bank of America Corp DE lifted its position in shares of Boston Omaha by 14.3% in the 1st 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 during the last quarter. Stevens Capital Partners boosted its holdings in shares of Boston Omaha by 4.8% in the 1st quarter. Stevens Capital Partners now owns 456,551 shares of the company’s stock valued at $5,333,000 after buying an additional 20,807 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of Boston Omaha by 127.3% in the 4th quarter. Global Retirement Partners LLC now owns 17,053 shares of the company’s stock valued at $211,000 after buying an additional 9,551 shares during the period. 60.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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