Boston Omaha (NYSE:BOC) Given “Equal Weight” Rating at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Boston Omaha (NYSE:BOC) in a research report sent to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $15.00 price objective on the stock, down from their previous price objective of $17.00.

Separately, TD Cowen decreased their price objective on shares of Boston Omaha from $30.00 to $28.00 and set a buy rating on the stock in a report on Wednesday, August 21st.

Boston Omaha Stock Up 0.3 %

BOC opened at $14.92 on Thursday. The firm’s 50-day simple moving average is $14.01 and its 200-day simple moving average is $14.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.01 and a current ratio of 2.01. Boston Omaha has a twelve month low of $12.41 and a twelve month high of $16.99. The firm has a market cap of $469.37 million, a price-to-earnings ratio of -71.05 and a beta of 0.80.

Boston Omaha (NYSE:BOC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Boston Omaha had a negative return on equity of 1.74% and a negative net margin of 10.08%. The firm had revenue of $27.09 million during the quarter, compared to the consensus estimate of $27.10 million.

Institutional Investors Weigh In On Boston Omaha

A number of hedge funds have recently added to or reduced their stakes in BOC. Dimensional Fund Advisors LP lifted its position in Boston Omaha by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,249,746 shares of the company’s stock valued at $16,822,000 after purchasing an additional 105,152 shares during the period. Private Management Group Inc. lifted its position in Boston Omaha by 268.9% during the 2nd quarter. Private Management Group Inc. now owns 693,746 shares of the company’s stock valued at $9,338,000 after purchasing an additional 505,695 shares during the period. Lawson Kroeker Investment Management Inc. NE lifted its position in Boston Omaha by 2.7% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 478,492 shares of the company’s stock valued at $6,441,000 after purchasing an additional 12,401 shares during the period. Elgethun Capital Management lifted its position in Boston Omaha by 40.2% during the 1st quarter. Elgethun Capital Management now owns 444,816 shares of the company’s stock valued at $6,857,000 after purchasing an additional 127,652 shares during the period. Finally, Ironvine Capital Partners LLC lifted its position 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 during the period. 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.