The Massachusetts Institute of Technology has purchased a new stake in the Boston Omaha Co. (NYSE:BOC)
The company’s most recent filing with the Securities and Exchange Commission revealed that the Massachusetts Institute of Technology (MIT) purchased additional shares of Boston Omaha Company (NYSE: BOC) during the third quarter. The company submitted the application. The institutional investor spent approximately $61,932,000 to purchase 2,688,031 shares of the company, bringing the total amount issued to approximately $61,932,000. The Massachusetts Institute of Technology has a total investment portfolio and Boston-Omaha holds a 10.5% stake. This puts Boston-Omaha in third place in terms of size. According to the most recent filing that the Massachusetts Institute of Technology filed with the SEC, it was revealed that MIT held a stake in Boston Omaha, accounting for approximately 9.05% of the company.
There have been several other institutional buyers who have also been buying and selling BOC stock. During the third quarter, the Great West Life Assurance Company of Canada invested $28,000 worth of stock in Boston Omaha. Nelson Van Denburg and Campbell Wealth Management Group LLC invested a total of $51,000 in Boston Omaha in the third quarter of the year. During the third quarter, SG Americas Securities LLC increased the value of its Boston and Omaha holdings by $190,000. In the third quarter of 2018, Founders Capital Management LLC made a financial investment in Boston Omaha for $303,000.
Last but not least, Versor Investments LP contributed $343.00 to a brand new investment in Boston, Omaha during the third quarter. This was the company’s first investment in the company. The Company’s outstanding shares are 63.81% owned jointly by institutional investors and hedge funds.
Recently, reports of BOC have been circulated by a significant number of different brokerage firms. In a report released Dec. 8, TheStreet changed its previous rating for Boston Omaha, which had been a “d+” for the company, to a “c-” rating for the company. Cowen raised his target price on Boston Omaha stock by $10 on Nov. 17, increasing it from the previous level of $30 to the current level of $40. A research note published by Wells Fargo & Company on Tuesday, November 1st gave the stock a rating of “overweight” and the brokerage firm’s price target was raised to $34.00 from $27.00. Both changes were made in connection with the publication of the Research Note.
On Friday, trading activity saw Boston Omaha stock rise $0.62, taking its price to $27.32 per share. In contrast to the usual trading volume of 98,381 shares, only 826 shares were exchanged for the stock. The company’s market cap is currently $811.35 million and its beta is 0.63. The price-to-earnings ratio is 68.46, which is quite high. The price of Boston-Omaha Co. experiences significant fluctuations throughout the year, typically fluctuating within a range of $18.68 to $30.94. The company’s 200-day moving average price is $25.68 and the company’s 50-day moving average price is $26.71. The current and fast ratio is 2.50 and the debt to equity ratio is 0.05. The ratio of current assets to current liabilities is 2.50.
On November 10th the latest earnings report for Boston Omaha was released. Boston Omaha is a company traded on the NYSE under the symbol BOC. During the period, the company reported a loss of $0.05 per share for the entire period. Net margin and return on equity were negative for Boston Omaha, with the former returning -14.45% and the latter -2.12%. The company’s revenue during the period was $21.45 million, ahead of analysts’ forecasts, which totaled $21.32 million.
Those known as Boston Omaha Corp. well-known holding company offers various services including billboards, insurance brokerage and surety bond insurance, among others. It operates in two separate markets: the insurance business and the billboard market. The Company’s insurance division reflects the commissions earned from the Company’s surety bond broking businesses as part of its overall business model. In the Billboards section of the menu you will find both the option to buy and rent billboards.
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