Russell Investments Group Ltd. lessened its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 11.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,381 shares of the real estate investment trust's stock after selling 16,917 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Lamar Advertising worth $14,265,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Prudential PLC grew its position in shares of Lamar Advertising by 57.8% in the 1st quarter. Prudential PLC now owns 68,471 shares of the real estate investment trust's stock valued at $7,791,000 after acquiring an additional 25,082 shares during the period. Resona Asset Management Co. Ltd. boosted its holdings in Lamar Advertising by 9.5% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 38,320 shares of the real estate investment trust's stock valued at $4,314,000 after purchasing an additional 3,329 shares during the period. HighTower Advisors LLC raised its position in shares of Lamar Advertising by 4.3% in the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust's stock valued at $76,698,000 after buying an additional 27,823 shares in the last quarter. Meridian Wealth Management LLC raised its position in shares of Lamar Advertising by 0.7% in the 1st quarter. Meridian Wealth Management LLC now owns 32,026 shares of the real estate investment trust's stock valued at $3,644,000 after buying an additional 229 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Lamar Advertising in the 1st quarter valued at approximately $40,699,000. Institutional investors own 93.78% of the company's stock.
Lamar Advertising Trading Down 0.5%
NASDAQ LAMR traded down $0.5660 on Thursday, hitting $122.0440. The company's stock had a trading volume of 239,496 shares, compared to its average volume of 629,127. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88. The company's 50-day moving average is $122.49 and its 200 day moving average is $119.16. The firm has a market cap of $12.35 billion, a PE ratio of 28.39 and a beta of 1.36.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results 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. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The firm had revenue of $579.31 million during the quarter, compared to analysts' expectations of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Wells Fargo & Company dropped their price objective on shares of 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. Finally, Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $134.20.
Check Out Our Latest Report on Lamar Advertising
Lamar Advertising Company Profile
(
Free Report)
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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