Shares of Boston Omaha Co. (NYSE:BOC – Get Rating) rose 6.5% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $21.46 and last traded at $21.43. Approximately 76,774 shares traded hands during trading, a decline of 47% from the average daily volume of 143,533 shares. The stock had previously closed at $20.13.
Specifically, Director Jeffrey C. Royal acquired 10,000 shares of Boston Omaha stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $19.23 per share, with a total value of $192,300.00. Following the transaction, the director now directly owns 21,176 shares of the company’s stock, valued at approximately $407,214.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey C. Royal bought 10,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average cost of $19.23 per share, for a total transaction of $192,300.00. Following the purchase, the director now directly owns 21,176 shares of the company’s stock, valued at $407,214.48. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brendan Joseph Keating bought 2,972 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average price of $19.21 per share, for a total transaction of $57,092.12. Following the completion of the purchase, the insider now directly owns 50,372 shares in the company, valued at $967,646.12. The disclosure for this purchase can be found here. Corporate insiders own 26.24% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Boston Omaha from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, March 29th. TD Cowen lifted their price objective on shares of Boston Omaha from $40.00 to $41.50 and gave the stock an “outperform” rating in a research note on Friday, March 31st.
Boston Omaha Stock Performance
Institutional Investors Weigh In On Boston Omaha
A number of hedge funds have recently added to or reduced their stakes in BOC. SG Americas Securities LLC purchased a new stake in shares of Boston Omaha in the 3rd quarter valued at approximately $190,000. Santa Monica Partners LP purchased a new position in shares of Boston Omaha in the 3rd quarter valued at $3,091,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Boston Omaha in the 3rd quarter valued at $37,000. Independent Advisor Alliance purchased a new position in shares of Boston Omaha in the 3rd quarter valued at $213,000. Finally, Massachusetts Institute of Technology purchased a new position in shares of Boston Omaha in the 3rd quarter valued at $61,932,000. 63.81% of the stock is currently owned by institutional investors and hedge funds.
About Boston Omaha
Boston Omaha Corp. is a holding company, which engages in the provision of billboards, surety insurance, and insurance brokerage activities. It operates through the Insurance and Billboards segments. The Insurance segment refers to commissions from the firm’s surety brokerage businesses. The Billboards segment includes billboard acquisition and rentals.
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