Boston Omaha (NYSE:BOC) Issues Earnings Results, Misses Estimates By $0.02 EPS

Boston Omaha (NYSE:BOC) issued its quarterly earnings data on Thursday. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02), FiscalAI reports. Boston Omaha had a negative return on equity of 2.46% and a negative net margin of 12.12%.The company had revenue of $22.20 million for the quarter, compared to the consensus estimate of $29.50 million.

Boston Omaha Stock Performance

Shares of NYSE BOC traded down $0.33 during midday trading on Friday, hitting $13.94. 152,274 shares of the company’s stock were exchanged, compared to its average volume of 96,130. Boston Omaha has a twelve month low of $10.52 and a twelve month high of $15.22. The firm has a market cap of $423.68 million, a P/E ratio of -33.18 and a beta of 0.67. The stock’s 50 day moving average price is $13.99 and its 200-day moving average price is $12.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.86 and a quick ratio of 1.86.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BOC shares. Wall Street Zen upgraded Boston Omaha from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d)” rating on shares of Boston Omaha in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Insider Activity at Boston Omaha

In other Boston Omaha news, Director Frank H. Kenan II bought 6,033 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $12.89 per share, for a total transaction of $77,765.37. Following the transaction, the director directly owned 315,991 shares in the company, valued at $4,073,123.99. The trade was a 1.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey C. Royal bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average cost of $12.72 per share, for a total transaction of $127,200.00. Following the purchase, the director directly owned 69,644 shares in the company, valued at $885,871.68. This represents a 16.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 81,798 shares of company stock worth $1,064,068. 24.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Omaha

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new stake in Boston Omaha in the second quarter worth about $50,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Boston Omaha during the 4th quarter worth about $125,000. Jump Financial LLC bought a new stake in shares of Boston Omaha during the 4th quarter worth about $138,000. Verition Fund Management LLC acquired a new stake in shares of Boston Omaha in the 3rd quarter worth approximately $155,000. Finally, MetLife Investment Management LLC boosted its holdings in shares of Boston Omaha by 38.7% in the fourth quarter. MetLife Investment Management LLC now owns 12,826 shares of the company’s stock valued at $159,000 after acquiring an additional 3,576 shares in the last quarter. 60.36% of the stock is currently owned by institutional investors.

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.