Private Management Group Inc. Purchases 93,836 Shares of Boston Omaha Co. (NYSE:BOC)

Private Management Group Inc. boosted its stake in Boston Omaha Co. (NYSE:BOC) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 787,582 shares of the company’s stock after purchasing an additional 93,836 shares during the period. Private Management Group Inc. owned about 2.50% of Boston Omaha worth $11,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Boston Omaha in the 3rd quarter valued at approximately $134,000. Susquehanna Fundamental Investments LLC bought a new position in Boston Omaha in the 2nd quarter valued at approximately $141,000. The Manufacturers Life Insurance Company bought a new position in shares of Boston Omaha during the second quarter valued at $139,000. Renaissance Technologies LLC raised 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 acquiring an additional 148,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Boston Omaha by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,249,746 shares of the company’s stock valued at $16,822,000 after acquiring an additional 105,152 shares during the last quarter. Institutional investors own 60.36% of the company’s stock.

Boston Omaha Trading Up 0.7 %

Shares of BOC traded up $0.11 during trading hours on Friday, hitting $14.87. 83,125 shares of the stock were exchanged, compared to its average volume of 158,114. Boston Omaha Co. has a fifty-two week low of $12.41 and a fifty-two week high of $16.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.01 and a quick ratio of 2.01. The business has a 50-day moving average of $14.64 and a 200-day moving average of $14.32. The firm has a market capitalization of $467.81 million, a P/E ratio of -45.06 and a beta of 0.80.

Boston Omaha (NYSE:BOC) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $27.10 million.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BOC shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $15.00 price target (down previously from $17.00) on shares of Boston Omaha in a research note on Thursday, September 19th. TD Cowen dropped their price target on shares of Boston Omaha from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

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.