Lamar Advertising Company $LAMR Shares Sold by Crossingbridge Advisors LLC

Key Points

• Crossingbridge Advisors LLC has significantly reduced its stake in Lamar Advertising Company by 66.7%, selling 10,000 shares to own 5,000 shares worth $569,000 by the end of the last quarter.
• Lamar Advertising's recent quarterly earnings report showed an EPS of $2.22, exceeding estimates of $1.48, with total revenue of $579.31 million, slightly below expectations.
• Analysts have mixed opinions on Lamar Advertising, with price targets ranging from $119 to $135; the stock currently has an average rating of "Hold" with a consensus target of $134.20.

Crossingbridge Advisors LLC reduced its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 66.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the real estate investment trust's stock after selling 10,000 shares during the period. Crossingbridge Advisors LLC's holdings in Lamar Advertising were worth $569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Osterweis Capital Management Inc. raised its stake in Lamar Advertising by 1.8% in the first quarter. Osterweis Capital Management Inc. now owns 204,677 shares of the real estate investment trust's stock valued at $23,288,000 after buying an additional 3,623 shares during the period. Berkshire Asset Management LLC PA acquired a new stake in shares of Lamar Advertising in the 1st quarter valued at $470,000. Hsbc Holdings PLC boosted its holdings in shares of Lamar Advertising by 232.3% in the 1st quarter. Hsbc Holdings PLC now owns 56,456 shares of the real estate investment trust's stock valued at $6,378,000 after purchasing an additional 39,468 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Lamar Advertising during the 1st quarter valued at $1,936,000. Finally, Northern Trust Corp boosted its holdings in shares of Lamar Advertising by 0.4% during the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust's stock valued at $145,967,000 after acquiring an additional 4,495 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Wall Street Analyst Weigh In

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

Lamar Advertising Stock Performance

LAMR stock traded up $4.36 on Friday, hitting $126.78. The company had a trading volume of 824,864 shares, compared to its average volume of 756,162. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The stock's 50-day simple moving average is $122.66 and its 200 day simple moving average is $119.10. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 29.48 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data 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. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The firm had revenue of $579.31 million for the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, equities research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

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.