Corebridge Financial Inc. Sells 2,384 Shares of Lamar Advertising Company $LAMR

Key Points

• Corebridge Financial Inc. reduced its stake in Lamar Advertising Company by 2.4% in the first quarter, now holding 97,367 shares valued at approximately $11.08 million.
• Insider activity includes CFO Jay Lecoryelle Johnson selling 22,000 shares for over $2.73 million, reflecting significant management transactions in the company.
• Research analysts have varied outlooks on Lamar Advertising's stock, with price targets ranging from $119 to $135, marking it with a mixed "Buy" and "Hold" rating.

Corebridge Financial Inc. trimmed its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,367 shares of the real estate investment trust's stock after selling 2,384 shares during the period. Corebridge Financial Inc. owned approximately 0.10% of Lamar Advertising worth $11,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the 1st quarter worth $28,000. HHM Wealth Advisors LLC raised 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 buying an additional 269 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings 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 worth $32,000 after acquiring an additional 218 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Lamar Advertising by 33.9% during the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 94 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Lamar Advertising by 172.7% during the first quarter. Smartleaf Asset Management LLC now owns 390 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 247 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 14.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Trading Down 0.2%

Shares of Lamar Advertising stock opened at $125.29 on Wednesday. The stock has a market cap of $12.68 billion, a PE ratio of 29.14 and a beta of 1.36. The firm has a fifty day moving average price of $122.90 and a 200 day moving average price of $119.08. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. 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 posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. The company had revenue of $579.31 million for the quarter, compared to analyst estimates 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. Equities research analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Company 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.

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