Bank of New York Mellon Corp Boosts Stock Position in Boston Omaha Co. (NYSE:BOC)

Bank of New York Mellon Corp boosted its stake in shares of Boston Omaha Co. (NYSE:BOC) by 15.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,020 shares of the company’s stock after buying an additional 10,828 shares during the period. Bank of New York Mellon Corp owned approximately 0.26% of Boston Omaha worth $1,117,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Private Management Group Inc. bought a new stake in shares of Boston Omaha during the first quarter valued at approximately $2,907,000. Compass Ion Advisors LLC purchased a new stake in Boston Omaha during the 1st quarter valued at $172,000. Lokken Investment Group LLC increased its holdings in shares of Boston Omaha by 43.8% in the 4th quarter. Lokken Investment Group LLC now owns 16,423 shares of the company’s stock worth $258,000 after purchasing an additional 5,000 shares in the last quarter. Security National Bank purchased a new position in shares of Boston Omaha in the fourth quarter worth $44,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Boston Omaha by 82.6% during the first quarter. BNP Paribas Financial Markets now owns 11,535 shares of the company’s stock valued at $178,000 after purchasing an additional 5,217 shares in the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.

Boston Omaha Price Performance

NYSE BOC opened at $14.98 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.01 and a quick ratio of 2.01. Boston Omaha Co. has a 1-year low of $12.41 and a 1-year high of $16.99. The stock has a market capitalization of $471.26 million, a price-to-earnings ratio of -69.90 and a beta of 0.80. The business’s fifty day moving average price is $13.98 and its 200-day moving average price is $14.56.

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 analysts’ consensus estimates of ($0.02) by ($0.05). Boston Omaha had a negative net margin of 10.08% and a negative return on equity of 1.74%. The firm had revenue of $27.09 million during the quarter, compared to the consensus estimate of $27.10 million.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. TD Cowen reduced their price objective on Boston Omaha from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $15.00 price target (down from $17.00) on shares of Boston Omaha in a research note on Thursday.

Boston Omaha Company Profile

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.