State of New Jersey Common Pension Fund D Lowers Stake in Lamar Advertising Company $LAMR

Key Points

• The State of New Jersey Common Pension Fund D decreased its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 15.0%, selling 4,248 shares to own 24,050 shares valued at approximately $2.736 million.
• Despite the decrease in holdings by some investors, others like Caitong International Asset Management increased their position by 11,133.3%, acquiring additional shares during the same period.
• Analysts have mixed predictions for Lamar Advertising, with a consensus rating of "Hold" and an average price target of $134.20, while two analysts rated it as a "Buy."

State of New Jersey Common Pension Fund D lowered its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 15.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,050 shares of the real estate investment trust's stock after selling 4,248 shares during the period. State of New Jersey Common Pension Fund D's holdings in Lamar Advertising were worth $2,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GeoWealth Management LLC increased its position in shares of Lamar Advertising by 100.8% during the fourth quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 388 shares in the last quarter. Ossiam increased its position in shares of Lamar Advertising by 41.0% during the fourth quarter. Ossiam now owns 1,149 shares of the real estate investment trust's stock worth $140,000 after purchasing an additional 334 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Lamar Advertising by 8.2% during the fourth quarter. MetLife Investment Management LLC now owns 53,105 shares of the real estate investment trust's stock worth $6,465,000 after purchasing an additional 4,032 shares in the last quarter. MML Investors Services LLC increased its position in shares of Lamar Advertising by 3.7% during the fourth quarter. MML Investors Services LLC now owns 67,411 shares of the real estate investment trust's stock worth $8,207,000 after purchasing an additional 2,379 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Lamar Advertising by 1.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust's stock worth $867,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Performance

NASDAQ:LAMR traded down $0.31 during mid-day trading on Tuesday, hitting $125.29. The company's stock had a trading volume of 562,825 shares, compared to its average volume of 789,618. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year 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. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 29.14 and a beta of 1.36. The business's fifty day moving average is $122.90 and its two-hundred day moving average is $119.08.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 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 company had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were 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 SEC, which can be accessed through this hyperlink. 14.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. 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 research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their target price on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $134.20.

Lamar Advertising 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.