Private Management Group Inc. Increases Holdings in Boston Omaha Co. (NYSE:BOC)

Private Management Group Inc. grew its position in shares of Boston Omaha Co. (NYSE:BOC - Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Boston Omaha by 82.6% during the first quarter. BNP Paribas Financial Markets now owns 11,535 shares of the company's stock worth $178,000 after purchasing an additional 5,217 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Boston Omaha by 333.9% during the second quarter. Renaissance Technologies LLC now owns 193,100 shares of the company's stock worth $2,599,000 after purchasing an additional 148,600 shares during the last quarter. Virtu Financial LLC bought a new stake in Boston Omaha during the first quarter worth about $302,000. The Manufacturers Life Insurance Company bought a new stake in Boston Omaha during the second quarter worth about $139,000. Finally, Rhumbline Advisers lifted its stake in Boston Omaha by 4.8% during the second quarter. Rhumbline Advisers now owns 39,908 shares of the company's stock worth $537,000 after purchasing an additional 1,822 shares during the last quarter. Institutional investors own 60.36% of the company's stock.

Wall Street Analysts Forecast Growth

BOC has been the subject of several research analyst reports. 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 lowered their target price 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.

Boston Omaha Trading Up 0.7 %

Shares of NYSE BOC traded up $0.11 during midday trading on Friday, reaching $14.87. The company had a trading volume of 83,125 shares, compared to its average volume of 158,114. Boston Omaha Co. has a one year low of $12.41 and a one year high of $16.99. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average price is $14.64 and its 200-day moving average price is $14.32. The stock has a market cap of $467.81 million, a PE ratio of -45.06 and a beta of 0.80.

Boston Omaha (NYSE:BOC - Get Free Report) last released 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 company had revenue of $27.09 million during the quarter, compared to the consensus estimate of $27.10 million.

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.