Boston Omaha (NYSE:BOC) Director Frank Kenan II Acquires 10,000 Shares of Stock

Boston Omaha Corporation (NYSE:BOC) Director Frank Kenan II bought 10,000 shares of Boston Omaha stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $12.93 per share, for a total transaction of $129,300.00. Following the completion of the acquisition, the director directly owned 309,958 shares in the company, valued at $4,007,756.94. This represents a 3.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Boston Omaha Stock Up 1.8%

Shares of BOC opened at $13.11 on Tuesday. The company has a market capitalization of $398.42 million, a P/E ratio of -29.79 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.86 and a quick ratio of 1.86. Boston Omaha Corporation has a one year low of $10.52 and a one year high of $14.76. The business’s 50 day simple moving average is $12.16 and its 200-day simple moving average is $12.41.

Boston Omaha (NYSE:BOC) last announced its earnings results on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $28.25 million during the quarter, compared to analyst estimates of $29.20 million. Boston Omaha had a negative return on equity of 2.57% and a negative net margin of 12.10%.

Hedge Funds Weigh In On Boston Omaha

Several hedge funds have recently added to or reduced their stakes in BOC. Elgethun Capital Management lifted its stake in Boston Omaha by 36.1% in the third quarter. Elgethun Capital Management now owns 1,426,608 shares of the company’s stock valued at $18,632,000 after buying an additional 378,624 shares during the period. Nitor Capital Management LLC acquired a new position in Boston Omaha in the fourth quarter valued at about $4,581,000. First Manhattan CO. LLC. acquired a new position in Boston Omaha in the fourth quarter valued at about $4,131,000. Arrowstreet Capital Limited Partnership acquired a new position in Boston Omaha in the second quarter valued at about $2,214,000. Finally, Jane Street Group LLC lifted its stake in Boston Omaha by 104.7% in the first quarter. Jane Street Group LLC now owns 87,917 shares of the company’s stock valued at $1,282,000 after buying an additional 44,968 shares during the period. Institutional investors and hedge funds own 60.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen raised Boston Omaha from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded 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 an average 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.