Boston Omaha Co. (NYSE:BOC) Sees Large Drop in Short Interest

Boston Omaha Co. (NYSE:BOC) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,120,000 shares, a decrease of 5.1% from the September 30th total of 1,180,000 shares. Based on an average daily volume of 119,800 shares, the short-interest ratio is currently 9.3 days. Approximately 3.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Boston Omaha

Several large investors have recently made changes to their positions in the company. Private Management Group Inc. bought a new position in Boston Omaha during the first quarter valued at approximately $2,907,000. BNP Paribas Financial Markets increased its position in shares of Boston Omaha by 82.6% during the 1st 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 during the last quarter. Renaissance Technologies LLC increased its position in 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. Virtu Financial LLC purchased a new stake in Boston Omaha in the 1st quarter worth about $302,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Boston Omaha in the second quarter worth about $139,000. 60.36% of the stock is owned by institutional investors.

Boston Omaha Price Performance

BOC traded down $0.06 on Thursday, hitting $14.85. 26,266 shares of the company’s stock traded hands, compared to its average volume of 158,188. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.06. Boston Omaha has a one year low of $12.41 and a one year high of $16.99. The company’s 50 day simple moving average is $14.59 and its 200-day simple moving average is $14.32. The firm has a market cap of $467.17 million, a price-to-earnings ratio of -44.79 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). The company had revenue of $27.09 million for the quarter, compared to analysts’ expectations of $27.10 million. Boston Omaha had a negative net margin of 10.08% and a negative return on equity of 1.74%.

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.