Boston Omaha (NYSE:BOC) Rating Reiterated by Wells Fargo & Company

Boston Omaha (NYSE:BOC)‘s stock had its “equal weight” rating restated by equities research analysts at Wells Fargo & Company in a report released on Thursday, Benzinga reports. They currently have a $15.00 price objective on the stock, down from their prior price objective of $17.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.28% from the company’s previous close.

Separately, TD Cowen dropped their price target on shares of Boston Omaha from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st.

Boston Omaha Stock Performance

BOC traded down $0.01 on Thursday, reaching $14.81. The company had a trading volume of 8,585 shares, compared to its average volume of 166,763. Boston Omaha has a 1 year low of $12.41 and a 1 year high of $16.99. The stock has a market capitalization of $465.91 million, a PE ratio of -70.57 and a beta of 0.80. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $13.94 and a 200-day moving average price of $14.56.

Boston Omaha (NYSE:BOC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The business had revenue of $27.09 million during the quarter, compared to analyst estimates of $27.10 million. Boston Omaha had a negative net margin of 10.08% and a negative return on equity of 1.74%.

Institutional Trading of Boston Omaha

A number of institutional investors have recently added to or reduced their stakes in BOC. Private Management Group Inc. boosted its holdings in Boston Omaha by 268.9% during the second quarter. Private Management Group Inc. now owns 693,746 shares of the company’s stock worth $9,338,000 after buying an additional 505,695 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Boston Omaha by 333.9% during the second quarter. Renaissance Technologies LLC now owns 193,100 shares of the company’s stock valued at $2,599,000 after buying an additional 148,600 shares during the period. Elgethun Capital Management increased its position in Boston Omaha by 40.2% during the first quarter. Elgethun Capital Management now owns 444,816 shares of the company’s stock worth $6,857,000 after purchasing an additional 127,652 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Boston Omaha by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,249,746 shares of the company’s stock worth $16,822,000 after acquiring an additional 105,152 shares in the last quarter. Finally, Ironvine Capital Partners LLC grew its holdings in Boston Omaha by 18.8% during the 1st quarter. Ironvine Capital Partners LLC now owns 420,667 shares of the company’s stock valued at $6,504,000 after purchasing an additional 66,672 shares in 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.