Fred Alger Management LLC Purchases 3,700 Shares of Lamar Advertising Company $LAMR

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 increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 12.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,588 shares of the real estate investment trust's stock after buying an additional 3,700 shares during the period. Fred Alger Management LLC's holdings in Lamar Advertising were worth $3,935,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LAMR. 1248 Management LLC bought a new position in Lamar Advertising during the first quarter worth $26,000. Golden State Wealth Management LLC bought a new position in Lamar Advertising during the first quarter worth $28,000. HHM Wealth Advisors LLC raised its stake in Lamar Advertising by 26,900.0% during the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after buying an additional 269 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in Lamar Advertising by 346.0% during 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 buying an additional 218 shares during the last quarter. Finally, Truvestments Capital LLC raised its stake in Lamar Advertising by 79.5% during the first 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 during the last quarter. Institutional investors own 93.78% of the company's stock.

Insider Buying and Selling

In other Lamar Advertising 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 value of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 14.99% of the company's stock.

Lamar Advertising Stock Up 0.0%

Lamar Advertising stock traded up $0.01 during midday trading on Monday, hitting $127.61. 79,169 shares of the stock were exchanged, compared to its average volume of 620,459. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 29.68 and a beta of 1.38. The business's 50-day moving average price is $124.38 and its 200-day moving average price is $119.10. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.74. The business had revenue of $579.31 million for the quarter, compared to analysts' expectations 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, research analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 4.9%. Lamar Advertising's payout ratio is currently 144.19%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LAMR. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Wells Fargo & Company reduced 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. Finally, Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price target for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. 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.com, the stock currently has a consensus rating of "Hold" and an average 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.