Berkshire Asset Management LLC PA Takes Position in Lamar Advertising Company $LAMR

Key Points

• Berkshire Asset Management LLC PA has acquired a new stake in Lamar Advertising Company, purchasing 4,075 shares valued at approximately $470,000 in Q1 2023.
• Multiple hedge funds have significantly increased their holdings in Lamar Advertising, with HSBC Holdings PLC growing its stake by 232.3% during the same period.
• The company's latest quarterly earnings showed an EPS of $2.22, exceeding estimates, and Lamar Advertising has projected its FY 2025 guidance at 6.090-6.11 EPS.

Berkshire Asset Management LLC PA bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,075 shares of the real estate investment trust's stock, valued at approximately $470,000.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Lamar Advertising during the first quarter worth approximately $28,000. HHM Wealth Advisors LLC boosted its stake in Lamar Advertising by 26,900.0% in the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 269 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in Lamar Advertising by 346.0% in the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 218 shares in the last quarter. Bessemer Group Inc. boosted its stake in Lamar Advertising by 33.9% in the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 94 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Lamar Advertising in the first quarter worth $60,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Up 3.6%

LAMR traded up $4.36 during trading hours on Friday, hitting $126.78. 824,864 shares of the company's stock were exchanged, compared to its average volume of 756,162. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The firm has a market cap of $12.83 billion, a P/E ratio of 29.48 and a beta of 1.36. The firm has a 50 day moving average of $122.66 and a 200 day moving average of $119.15.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The company had revenue of $579.31 million during the quarter, compared to analysts' expectations of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.