Acadian Asset Management LLC Has $8.18 Million Holdings in Lamar Advertising Company $LAMR

Key Points

• Acadian Asset Management LLC increased its stake in Lamar Advertising Company by 525.1% in Q1, now holding 71,910 shares valued at approximately $8.18 million.
• Lamar Advertising reported Q2 earnings of $2.22 per share, exceeding expectations of $1.48, and achieved a net margin of 19.72%.
• The company declared a quarterly dividend of $1.55, resulting in a yield of 4.9% and a payout ratio of 144.19%.

Acadian Asset Management LLC increased its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 525.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,910 shares of the real estate investment trust's stock after acquiring an additional 60,406 shares during the period. Acadian Asset Management LLC owned about 0.07% of Lamar Advertising worth $8,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of Lamar Advertising by 426.0% during the 1st quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust's stock worth $74,340,000 after purchasing an additional 533,959 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Lamar Advertising during the 1st quarter worth about $40,699,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Lamar Advertising by 181.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust's stock worth $41,410,000 after purchasing an additional 234,735 shares in the last quarter. Millennium Management LLC raised its stake in shares of Lamar Advertising by 158.6% during the 1st quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust's stock worth $34,918,000 after purchasing an additional 188,213 shares in the last quarter. Finally, Easterly Investment Partners LLC raised its stake in shares of Lamar Advertising by 269.4% during the 1st quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust's stock worth $18,061,000 after purchasing an additional 115,762 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price target for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Wells Fargo & Company cut their price objective on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Lamar Advertising has an average rating of "Hold" and an average target price of $134.20.

Lamar Advertising Stock Performance

Shares of LAMR stock traded down $0.52 during trading on Thursday, reaching $126.09. The company had a trading volume of 149,179 shares, compared to its average volume of 620,799. The firm's 50 day simple moving average is $124.59 and its two-hundred day simple moving average is $119.22. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The company has a market capitalization of $12.76 billion, a PE ratio of 29.33 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.74. The business had revenue of $579.31 million for the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Sell-side analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. Lamar Advertising's dividend payout ratio (DPR) is 144.19%.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.99% of the stock is owned by company insiders.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.