Boston Omaha (NYSE:BOC) Stock Price Down 0.9% – Here’s Why

Boston Omaha Corporation (NYSE:BOC)’s share price was down 0.9% during mid-day trading on Thursday . The stock traded as low as $13.38 and last traded at $13.41. Approximately 145,118 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 183,235 shares. The stock had previously closed at $13.53.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Boston Omaha in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Boston Omaha currently has an average rating of “Hold” and an average target price of $25.00.

Boston Omaha Trading Down 6.6%

The stock has a fifty day moving average price of $13.04 and a 200 day moving average price of $13.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.07 and a current ratio of 2.07.

Boston Omaha (NYSE:BOC) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The company had revenue of $28.21 million for the quarter, compared to analyst estimates of $28.85 million. Boston Omaha had a negative net margin of 0.21% and a negative return on equity of 0.04%.

Institutional Investors Weigh In On Boston Omaha

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming acquired a new stake in Boston Omaha in the 2nd quarter valued at approximately $50,000. AlphaQuest LLC bought a new stake in shares of Boston Omaha in the first quarter valued at approximately $142,000. Verition Fund Management LLC acquired a new stake in shares of Boston Omaha in the third quarter worth $155,000. Cornerstone Investment Partners LLC bought a new position in Boston Omaha during the third quarter worth $165,000. Finally, Covestor Ltd raised its stake in Boston Omaha by 47.3% during the 3rd quarter. Covestor Ltd now owns 13,066 shares of the company’s stock valued at $171,000 after purchasing an additional 4,194 shares during the last quarter. 60.36% of the stock is owned by institutional investors and hedge funds.

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.