Lamar Advertising Company $LAMR Shares Bought by Hourglass Capital LLC

Key Points

• Hourglass Capital LLC increased its holdings in Lamar Advertising Company by 64.1% during the second quarter, acquiring 18,568 additional shares, bringing their total to 47,513 shares valued at approximately $5.77 million.
• CFO Jay Lecoryelle Johnson sold 22,000 shares of LAMR stock for $2.73 million on August 22nd, while corporate insiders own 14.99% of the company.
• The company's recent earnings report showed an EPS of $2.22, exceeding expectations, and a quarterly dividend of $1.55 per share was paid, indicating a dividend yield of 5.1%.

Hourglass Capital LLC raised its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 64.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,513 shares of the real estate investment trust's stock after acquiring an additional 18,568 shares during the quarter. Hourglass Capital LLC's holdings in Lamar Advertising were worth $5,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of LAMR. 1248 Management LLC acquired a new position in shares of Lamar Advertising in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new position in shares of Lamar Advertising in the 1st quarter valued at about $28,000. Ameritas Advisory Services LLC acquired a new position in shares of Lamar Advertising in the 2nd quarter valued at about $28,000. HHM Wealth Advisors LLC increased its holdings in shares of Lamar Advertising by 26,900.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 269 shares during the period. Finally, Truvestments Capital LLC increased its holdings in shares of Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 140 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LAMR has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Wells Fargo & Company lowered their price target on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of Lamar Advertising in a research note on Wednesday, October 8th. Finally, Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Lamar Advertising has a consensus rating of "Moderate Buy" and a consensus target price of $134.20.

Lamar Advertising Stock Up 0.8%

LAMR opened at $121.00 on Thursday. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 28.14 and a beta of 1.37. The business has a 50 day moving average of $123.45 and a 200-day moving average of $119.97.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations 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, sell-side analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.1%. The ex-dividend date was Friday, September 19th. Lamar Advertising's dividend payout ratio is currently 144.19%.

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.

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