3,301 Shares in Lamar Advertising Company $LAMR Purchased by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. acquired 3,301 shares of Lamar Advertising Company, valued at about $376,000, as part of its first-quarter investments.
• Lamar Advertising recently reported $2.22 EPS for the latest quarter, surpassing expectations, and has announced a quarterly dividend of $1.55 per share.
• Several hedge funds increased their stakes in Lamar Advertising, with AQR Capital Management lifting its holdings by 426.0% during the first quarter.

Aristeia Capital L.L.C. bought a new stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 3,301 shares of the real estate investment trust's stock, valued at approximately $376,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. 1248 Management LLC acquired a new position in shares of Lamar Advertising in the 1st quarter valued at $26,000. Golden State Wealth Management LLC acquired a new position in Lamar Advertising in the 1st quarter worth $28,000. HHM Wealth Advisors LLC boosted its stake in Lamar Advertising by 26,900.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 269 shares during the period. ST Germain D J Co. Inc. boosted its stake in Lamar Advertising by 346.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 218 shares during the period. Finally, Truvestments Capital LLC lifted its position in Lamar Advertising by 79.5% during the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock worth $36,000 after buying an additional 140 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LAMR shares. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Wells Fargo & Company lowered their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. lowered their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Finally, Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Lamar Advertising has an average rating of "Hold" and an average price target of $134.20.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 14.99% of the stock is owned by corporate insiders.

Lamar Advertising Trading Down 0.9%

NASDAQ LAMR traded down $1.22 during mid-day trading on Friday, reaching $127.60. 298,934 shares of the stock were exchanged, compared to its average volume of 624,994. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The stock has a 50 day simple moving average of $124.38 and a 200-day simple moving average of $119.14. The stock has a market cap of $12.92 billion, a P/E ratio of 29.67 and a beta of 1.38. 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 (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. The business had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared 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. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, September 19th. Lamar Advertising's dividend payout ratio (DPR) is presently 144.19%.

Lamar Advertising Profile

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.