MetLife Investment Management LLC Buys 26,858 Shares of Lamar Advertising Company $LAMR

Key Points

• MetLife Investment Management LLC significantly increased its stake in Lamar Advertising Company by 50.6%, acquiring an additional 26,858 shares, bringing its total holdings to approximately $9.1 million.
• Key analysts have provided mixed ratings on Lamar Advertising, with JPMorgan lowering its target price from $125 to $122, while Citigroup upgraded the stock from "neutral" to "buy" with a target increase to $135.
• Lamar Advertising reported earnings of $2.22 per share, exceeding expectations, but its revenue of $579.31 million was slightly below analyst estimates of $580.72 million.

MetLife Investment Management LLC increased its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 50.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,963 shares of the real estate investment trust's stock after purchasing an additional 26,858 shares during the quarter. MetLife Investment Management LLC owned approximately 0.08% of Lamar Advertising worth $9,098,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Lamar Advertising by 33.9% in the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 94 shares during the period. Golden State Wealth Management LLC bought a new position in Lamar Advertising in the first quarter worth $28,000. Farther Finance Advisors LLC lifted its position in Lamar Advertising by 101.2% in the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock worth $277,000 after purchasing an additional 1,230 shares during the period. SG Americas Securities LLC bought a new position in Lamar Advertising in the first quarter worth $1,007,000. Finally, Fifth Third Bancorp lifted its position in Lamar Advertising by 9.3% in the first quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock worth $635,000 after purchasing an additional 475 shares during the period. 93.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.99% of the company's stock.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price 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. Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Wells Fargo & Company cut 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. Finally, Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $134.20.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $125.29 on Wednesday. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $139.88. The firm has a market cap of $12.68 billion, a PE ratio of 29.14 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 business has a fifty day moving average of $122.90 and a 200-day moving average of $119.08.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The company had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, equities research analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

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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