TD Cowen Cuts Boston Omaha (NYSE:BOC) Price Target to $25.00

Boston Omaha (NYSE:BOC) had its price objective cut by TD Cowen from $28.00 to $25.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Boston Omaha Stock Performance

Boston Omaha stock traded down $0.18 during mid-day trading on Wednesday, hitting $14.12. 86,001 shares of the company’s stock traded hands, compared to its average volume of 131,542. Boston Omaha has a one year low of $12.41 and a one year high of $16.29. The company has a market cap of $443.96 million, a PE ratio of -42.77 and a beta of 0.84. The firm has a 50 day moving average price of $14.39 and a 200 day moving average price of $14.61. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Boston Omaha (NYSE:BOC) last released its earnings results on Friday, March 28th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.19. The business had revenue of $27.93 million for the quarter, compared to the consensus estimate of $28.00 million. Boston Omaha had a negative net margin of 9.73% and a negative return on equity of 1.76%.

Insider Transactions at Boston Omaha

In other Boston Omaha news, major shareholder Omaha Corp Boston sold 8,857 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $11.18, for a total transaction of $99,021.26. Following the sale, the insider now owns 10,852,718 shares in the company, valued at approximately $121,333,387.24. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 255,156 shares of company stock valued at $2,984,309 over the last three months. Company insiders own 23.33% of the company’s stock.

Hedge Funds Weigh In On Boston Omaha

Several institutional investors and hedge funds have recently bought and sold shares of BOC. BNP Paribas Financial Markets boosted its stake in shares of Boston Omaha by 61.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,474 shares of the company’s stock valued at $200,000 after buying an additional 5,107 shares during the period. State Street Corp raised its holdings in shares of Boston Omaha by 1.9% during the third quarter. State Street Corp now owns 492,192 shares of the company’s stock worth $7,319,000 after acquiring an additional 9,073 shares in the last quarter. Barclays PLC boosted its position in Boston Omaha by 188.4% during the third quarter. Barclays PLC now owns 43,830 shares of the company’s stock valued at $652,000 after purchasing an additional 28,632 shares during the last quarter. Geode Capital Management LLC grew its stake in Boston Omaha by 4.2% in the third quarter. Geode Capital Management LLC now owns 533,777 shares of the company’s stock valued at $7,939,000 after purchasing an additional 21,682 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Boston Omaha by 44.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,476 shares of the company’s stock worth $1,212,000 after purchasing an additional 25,027 shares during the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.

About Boston Omaha

Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States. It is also involved in the surety insurance and related brokerage, broadband, and asset management businesses. The company was formerly known as REO Plus, Inc and changed its name to Boston Omaha Corporation in March 2015.