Lamar Advertising Company $LAMR Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Lamar Advertising by 13.5% in the first quarter, buying 16,365 additional shares and bringing its total holding to 137,988 shares valued at about $17.5 million.
• Several other institutional investors also boosted positions, and institutional ownership remains very high at 93.78%, indicating strong professional investor interest in LAMR.
• Lamar Advertising recently beat quarterly earnings and revenue estimates, and analysts currently rate the stock a consensus Hold with a target price of $150.50, while the shares recently traded above that level at $162.32.

Assetmark Inc. lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 137,988 shares of the real estate investment trust's stock after buying an additional 16,365 shares during the period. Assetmark Inc. owned 0.14% of Lamar Advertising worth $17,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prosperity Consulting Group LLC boosted its stake in Lamar Advertising by 12.1% in the first quarter. Prosperity Consulting Group LLC now owns 2,486 shares of the real estate investment trust's stock valued at $315,000 after acquiring an additional 268 shares during the period. D.A. Davidson & CO. raised its position in shares of Lamar Advertising by 18.4% during the 1st quarter. D.A. Davidson & CO. now owns 3,366 shares of the real estate investment trust's stock worth $426,000 after purchasing an additional 524 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Lamar Advertising during the 1st quarter worth approximately $488,000. Sanctuary Advisors LLC lifted its holdings in shares of Lamar Advertising by 31.9% in the 1st quarter. Sanctuary Advisors LLC now owns 71,389 shares of the real estate investment trust's stock worth $9,042,000 after purchasing an additional 17,281 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Lamar Advertising by 78.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,586 shares of the real estate investment trust's stock worth $708,000 after purchasing an additional 2,458 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Analyst Upgrades and Downgrades

LAMR has been the subject of a number of recent research reports. Wells Fargo & Company upped their price objective on Lamar Advertising from $136.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Morgan Stanley set a $145.00 target price on Lamar Advertising in a research report on Thursday, May 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Citigroup downgraded shares of Lamar Advertising from a "buy" rating to a "neutral" rating and boosted their price target for the company from $145.00 to $160.00 in a report on Friday, July 10th. Finally, TD Cowen upped their price target on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $150.50.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $162.32 on Monday. Lamar Advertising Company has a 1 year low of $113.66 and a 1 year high of $164.38. The firm has a market cap of $16.47 billion, a P/E ratio of 29.95 and a beta of 1.19. The stock has a fifty day moving average price of $153.39 and a two-hundred day moving average price of $139.56. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.18. The business had revenue of $528.00 million during the quarter, compared to analyst estimates of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. Research analysts forecast that Lamar Advertising Company will post 8.41 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, June 16th. Lamar Advertising's payout ratio is presently 118.08%.

Lamar Advertising Profile

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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