MIT acquires new stake in Boston-Omaha company. (NYSE:BOC – Get Rating ) for the third quarter, according to the company’s most recent filing with the Securities and Exchange Commission. Institutional investors purchased 2,688,031 shares of the company’s stock, worth approximately $61,932,000. Boston Omaha accounts for 10.5 percent of MIT’s portfolio, making it the third-largest portfolio. MIT owns about 9.05 percent of Boston-Omaha, according to a recent SEC filing.
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Several other institutional investors also bought and sold Bank of China shares. Great Western life insurance company Can bought a new stake in Boston-Omaha in the third quarter, valued at $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Boston-Omaha for $51,000 in the third quarter. SG Americas Securities LLC purchased a new stake in Boston Omaha for $190,000 in the third quarter. Founders Capital Management LLC purchased a new stake in Boston-Omaha in the third quarter, valued at $303,000. Finally, Versor Investments LP purchased a new stake in Boston-Omaha for $343,000 in the third quarter. Hedge funds and other institutional investors own 63.81% of the company.
Analyst promotion and downgrade
A number of brokerages have released reports on Bank of China. TheStreet raised shares of Boston Omaha from a “d+” rating to a “c-” rating in a report on Thursday, December 8th. Cowen raised their price target on shares of Boston Omaha to $40.00 in a report on Thursday, November 17th. Finally, Wells Fargo & Company upped their target price on shares of Boston Omaha from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, November 1st.
Boston Omaha Price Performance
Boston Omaha shares rose 62 cents to $27.32 during trading Friday. The stock’s volume was 826 shares, compared with its average volume of 98,381 shares. The company has a market capitalization of $811.35 million, a price-to-earnings ratio of -68.46, and a beta of 0.63. The Boston Omaha company had a 12-month low of $18.68 and a 12-month high of $30.94. The company’s 50-day moving average is $26.91 and its 200-day moving average is $25.68. The company has a current ratio of 2.50, a quick ratio of 2.50, and a debt-to-equity ratio of 0.05.
Boston Omaha (NYSE: BOC – Get Rating ) last reported its earnings results on Thursday, November 10th. The company reported earnings per share (EPS) ($0.05) for the quarter. Boston Omaha had a negative return on equity of 2.12% and a negative net profit margin of 14.45%. The company’s revenue for the quarter was $21.45 million, compared with analysts’ expectations of $21.32 million.
About Boston Omaha
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Boston Omaha Corporation is a holding company engaged in the provision of billboards, surety insurance and insurance brokerage. It operates through the Insurance and Billboards segments. The insurance segment refers to commissions from the company’s guarantee brokerage business. The Billboard segment includes billboard acquisition and leasing.
further reading
Want to see which other hedge funds own BOC? Visit HoldingsChannel.com for the latest 13F filings and insider trading from Boston Omaha companies. (NYSE: BOC – Get Rated).
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