8 Best Conglomerate Stocks to Buy Now

2) Boston Omaha Corporation (NYSE:BOC)

Average Upside Potential: 118.82%

Boston Omaha Corporation (NYSE:BOC) is registered with the US SEC and is incorporated in the state of Delaware. The company is engaged in the business of real estate operators (no developers) & lessors.

In 1Q 2024, the company realized total revenues of $25.5 million, exhibiting an increase of 12.0% over revenues of $22.8 million in 1Q 2023. Revenues went up in each of its businesses in 1Q 2024. Most notably, net billboard rentals went up by 3.8%, reflecting an improvement in rental and occupancy rates throughout markets. Revenue from broadband services increased 13.4% reflecting subscriber growth.

Wall Street analysts believe that the company’s current trading levels continue to offer opportunities for investors to go long on this stock. 2023 was a dismal year for Boston Omaha Corporation (NYSE:BOC), mainly because its billboard business depends on advertiser demand along with economic conditions. Also, the company’s asset management business is quite sensitive to the US Federal Reserve’s decisions pertaining to interest rates.

Why are analysts optimistic? One of the biggest reasons is that Boston Omaha Corporation (NYSE:BOC) has seen a lot of insider activity in the year gone by. Independent Director, Jeffrey Royal, made the biggest purchase over the previous 12 months. This single transaction was at US$192k worth of shares. Royal bought it at US$19.23 each. At the time of writing, the stock trades at US$14.74.

CEO Adam K. Peterson bought 25,300 shares of the firm’s stock on 5^th June at the price of $14.37 per share. This equates to a total value of $363,561.00. Director Frank H. Kenan II acquired 30,000 shares of Boston Omaha Corporation (NYSE:BOC) on 11^th June. These were bought at $14.03 per share.

According to Insider Monkey’s first-quarter database, 13 hedge funds held long positions in Boston Omaha Corporation (NYSE:BOC).