Boston Omaha (BOC)
Owns billboard, broadband, and surety platforms with minority investments.
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Runs controlled billboard, broadband, and surety businesses, with asset management being wound down and minority holdings alongside them. Revenue is concentrated in US billboard rentals and broadband services, while operations depend on local advertising demand, fiber expansion economics, surety underwriting, and Magnolia-linked voting control.
Built under present management since 2015, the company operates a collection of controlled US platforms rather than one product line. Link Media rents outdoor billboard advertising space, Boston Omaha Broadband provides high-speed internet through regional brands, and General Indemnity Group writes and brokers surety coverage.
Billboard rentals and broadband services are the main revenue engines, with surety premiums and commissions adding a smaller insurance line. Asset management is being wound down, while minority investments remain part of the capital-allocation model.
Execution centers on acquiring and expanding niche operating businesses. The structure depends on local ad demand, broadband buildout economics, insurance licensing and underwriting discipline, and concentrated voting influence tied to Magnolia.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
No analyst notes in the last 24 months.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $35.3M · Total debt $101.5M · Total assets $683.1M · Shareholders' equity $501.9M
- Revenue
- $22.2M
- Operating income
- −$603.0K
- Net income
- −$1.6M
No dividends on record.
| Institutions | ≈ 66.45% | 20.02M shares | |
|---|---|---|---|
| 141 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.69% | 207.3K shares | |
| 6 holders · as of Sep 16, 2026 | |||
| Other | ≈ 32.86% | 9.90M shares | |
| remainder | |||
30.13M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Magnolia Group, LLCInstitution | 18.55% | 5.59M A | as of Jun 30, 2026 |
T. Rowe Price Investment Management, Inc.Institution | 9.19% | 2.77M | filed Feb 14, 2023 |
Massachusetts Institute of TechnologyInstitution | 8.11% | 2.44M A | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 5.94% | 1.79M A | as of Jun 30, 2026 |
Elgethun Capital ManagementInstitution | 4.85% | 1.46M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Brendan Joseph Keating | director | −100,994 | $13.56 |
| May 28, 2026 | Frank H. II Kenan | director | +34,719 | $13.37 |
| May 29, 2026 | Frank H. II Kenan | director | +10,000 | $12.93 |
| Jun 1, 2026 | Frank H. II Kenan | director | +6,033 | $12.89 |
| May 22, 2026 | Jeffrey C. Royal | director | +10,000 | $12.40 |
- Lamar Advertising
Largest pure-play rival for roadside billboard rentals
- Cable One
Regional broadband peer in Arizona and other non-metro markets
- Lumen Technologies
Incumbent fiber and broadband pressure in Utah population centers
- Travelers
Large surety writer for contract and commercial bond accounts
- OUTFRONT Media
U.S. OOH REIT competing for billboard and transit ad budgets
- Old Republic International
Public surety specialist through Old Republic Surety
- Clear Channel Outdoor
Scaled U.S. roadside and airport OOH network
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Boston Omaha | $13.49 | −0.15% | $406.7M | — | — | 3.7 | −21.3% |
| Lamar Advertising | $145.13 | −0.01% | $14.82B | 26.7 | 23.9 | 6.4 | +6.5% |
| Cable One | $17.00 | +0.38% | $102.2M | — | 1.0 | 0.1 | −8.4% |
| Lumen Technologies | $6.42 | +0.41% | $6.66B | — | — | 0.6 | −9.3% |
| Travelers | $362.01 | −0.05% | $77.41B | 9.9 | 12.1 | 1.6 | −4.8% |
| OUTFRONT Media | $28.15 | −0.14% | $4.97B | 20.0 | 20.7 | 2.6 | +13.5% |
| Old Republic International | $38.78 | 0.00% | $9.55B | 8.6 | 12.1 | 1.0 | +13.4% |
| Clear Channel Outdoor | $2.38 | −0.21% | $1.21B | — | — | 0.7 | +8.8% |
| Median | 15.0 | 12.1 | 1.0 | +6.5% |