Lamar Advertising Company $LAMR Stock Position Raised by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its stake in Lamar Advertising Company by 12.0%, now owning 34,588 shares valued at approximately $3.935 million.
• Lamar Advertising recently announced a quarterly dividend of $1.55 per share, equating to an annualized dividend yield of 4.8%.
• Analysts have mixed ratings on Lamar Advertising, with a consensus rating of "Hold" and an average target price of $134.20.

Fred Alger Management LLC lifted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,588 shares of the real estate investment trust's stock after purchasing an additional 3,700 shares during the quarter. Fred Alger Management LLC's holdings in Lamar Advertising were worth $3,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Lamar Advertising by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 94 shares during the period. MAI Capital Management raised its position in shares of Lamar Advertising by 44.0% during the 1st quarter. MAI Capital Management now owns 360 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 110 shares during the period. Gilbert & Cook Inc. raised its position in shares of Lamar Advertising by 2.7% during the 1st quarter. Gilbert & Cook Inc. now owns 4,455 shares of the real estate investment trust's stock worth $507,000 after purchasing an additional 117 shares during the period. Tocqueville Asset Management L.P. raised its position in shares of Lamar Advertising by 0.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 21,993 shares of the real estate investment trust's stock worth $2,502,000 after purchasing an additional 120 shares during the period. Finally, Truvestments Capital LLC grew its holdings in Lamar Advertising by 79.5% in 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. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on LAMR. Wells Fargo & Company decreased their price objective on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Finally, Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $134.20.

Lamar Advertising Price Performance

NASDAQ LAMR traded down $1.22 on Friday, reaching $127.60. 298,934 shares of the stock traded hands, compared to its average volume of 624,994. The firm's fifty day simple moving average is $124.38 and its 200 day simple moving average is $119.14. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 29.67 and a beta of 1.38. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.74. The firm had revenue of $579.31 million during the quarter, compared to analyst estimates 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. As a group, research analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

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

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.99% of the company's stock.

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.