Osterweis Capital Management Inc. Grows Stake in Lamar Advertising Company $LAMR

Key Points

• Osterweis Capital Management Inc. increased its holdings in Lamar Advertising Company to $23.29 million, owning 204,677 shares after a 1.8% increase in the first quarter.
• Lamar Advertising reported $2.22 earnings per share for the last quarter, significantly surpassing analysts' estimates of $1.48, with a revenue of $579.31 million.
• In recent analyst ratings, Morgan Stanley raised its target price for Lamar Advertising from $125.00 to $135.00, while Wells Fargo and JPMorgan reduced their targets, reflecting mixed sentiment in the market.

Osterweis Capital Management Inc. increased its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,677 shares of the real estate investment trust's stock after buying an additional 3,623 shares during the quarter. Osterweis Capital Management Inc. owned 0.20% of Lamar Advertising worth $23,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Hamlin Capital Management LLC lifted its position in Lamar Advertising by 3.4% in the first quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust's stock valued at $149,225,000 after purchasing an additional 43,081 shares during the last quarter. Northern Trust Corp lifted its position in Lamar Advertising by 0.4% in the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust's stock valued at $145,967,000 after purchasing an additional 4,495 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lamar Advertising by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock valued at $126,258,000 after purchasing an additional 7,426 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Lamar Advertising by 5.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock valued at $104,431,000 after purchasing an additional 50,004 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Lamar Advertising by 4.3% in the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust's stock valued at $76,698,000 after purchasing an additional 27,823 shares during the last quarter. Institutional investors own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on 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. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their target price for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a research note 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $134.20.

Lamar Advertising Stock Up 3.6%

LAMR stock traded up $4.36 during midday trading on Friday, hitting $126.78. The stock had a trading volume of 824,864 shares, compared to its average volume of 756,162. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 29.48 and a beta of 1.36. The business has a 50-day moving average of $122.66 and a two-hundred day moving average of $119.15. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.74. The company had revenue of $579.31 million for 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, equities research analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

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.