Kayne Anderson Rudnick Investment Management LLC Has $41.41 Million Stock Holdings in Lamar Advertising Company $LAMR

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Lamar Advertising Company by 181.7%, holding approximately $41.41 million worth of stock as of its latest SEC filing.
• Lamar Advertising reported earnings per share of $2.22 for the last quarter, exceeding estimates by $0.74 despite falling slightly short on revenue expectations.
• Analysts have mixed ratings for Lamar Advertising, with upgrades from Citigroup and Morgan Stanley, while Wells Fargo and JPMorgan Chase lowered their price targets, resulting in an average rating of "Hold".

Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 181.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 363,949 shares of the real estate investment trust's stock after acquiring an additional 234,735 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.36% of Lamar Advertising worth $41,410,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LAMR. Northern Trust Corp lifted its position in Lamar Advertising by 50.5% during the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after purchasing an additional 428,744 shares during the period. Nuveen LLC acquired a new position in shares of Lamar Advertising in the 1st quarter valued at approximately $40,699,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of Lamar Advertising by 2,424.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 229,422 shares of the real estate investment trust's stock worth $27,930,000 after acquiring an additional 220,334 shares during the period. Easterly Investment Partners LLC boosted its position in shares of Lamar Advertising by 269.4% during the 1st quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust's stock worth $18,061,000 after acquiring an additional 115,762 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Lamar Advertising by 39.8% during the 4th quarter. Nuveen Asset Management LLC now owns 313,629 shares of the real estate investment trust's stock worth $38,181,000 after acquiring an additional 89,236 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Up 3.6%

Shares of NASDAQ:LAMR opened at $126.78 on Monday. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The company has a market capitalization of $12.83 billion, a PE ratio of 29.48 and a beta of 1.36. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The company has a fifty day moving average of $122.66 and a 200-day moving average of $119.05.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share 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 the consensus estimate 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. On average, equities analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LAMR has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of 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. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Lamar Advertising currently has an average rating of "Hold" and an average price target of $134.20.

About Lamar Advertising

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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