Lamar Advertising Company $LAMR Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Lamar Advertising by 4,516.0%, acquiring 2,258 additional shares, bringing its total to 2,308, worth $263,000.
• Citigroup upgraded Lamar Advertising's rating from "neutral" to "buy" with a price target increase from $114.00 to $135.00.
• The company announced a quarterly dividend of $1.55, representing an annualized yield of 4.9%, with a payout ratio of 144.19%.

AlphaQuest LLC increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 4,516.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,308 shares of the real estate investment trust's stock after acquiring an additional 2,258 shares during the period. AlphaQuest LLC's holdings in Lamar Advertising were worth $263,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Northern Trust Corp grew its stake in shares of Lamar Advertising by 50.5% during the 4th 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 purchased a new stake in Lamar Advertising during the first quarter worth about $40,699,000. Easterly Investment Partners LLC boosted its holdings in Lamar Advertising by 269.4% during the first quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust's stock worth $18,061,000 after buying an additional 115,762 shares in the last quarter. Nuveen Asset Management LLC grew its position in Lamar Advertising by 39.8% during the fourth quarter. Nuveen Asset Management LLC now owns 313,629 shares of the real estate investment trust's stock worth $38,181,000 after buying an additional 89,236 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Lamar Advertising by 10,231.4% in the first quarter. GAMMA Investing LLC now owns 78,622 shares of the real estate investment trust's stock valued at $8,946,000 after buying an additional 77,861 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company's stock in a transaction dated 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 is available through this link. Company insiders own 14.99% of the company's stock.

Lamar Advertising Price Performance

NASDAQ:LAMR traded up $1.73 during trading hours on Thursday, reaching $128.01. 359,291 shares of the company traded hands, compared to its average volume of 757,824. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The firm's 50-day moving average is $123.80 and its 200-day moving average is $119.08. The stock has a market cap of $12.96 billion, a P/E ratio of 29.77 and a beta of 1.38. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.74. The business 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. Equities research analysts expect that Lamar Advertising Company will post 7.92 earnings per share 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. Stockholders of record on Friday, September 19th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.8%. Lamar Advertising's dividend payout ratio is currently 144.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LAMR. 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 research note on Monday, August 4th. Wells Fargo & Company reduced 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. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and upped their target price for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. dropped their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $134.20.

Lamar Advertising Company 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.