Parallel Advisors LLC Has $130,000 Position in Lamar Advertising Company $LAMR

Parallel Advisors LLC grew its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 27.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,068 shares of the real estate investment trust’s stock after purchasing an additional 231 shares during the quarter. Parallel Advisors LLC’s holdings in Lamar Advertising were worth $130,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kera Capital Partners Inc. acquired a new stake in shares of Lamar Advertising in the second quarter valued at about $354,000. Pensionfund DSM Netherlands grew its position in Lamar Advertising by 6.9% during the second quarter. Pensionfund DSM Netherlands now owns 15,500 shares of the real estate investment trust’s stock worth $1,881,000 after buying an additional 1,000 shares in the last quarter. Pensionfund Sabic grew its position in Lamar Advertising by 83.3% during the first quarter. Pensionfund Sabic now owns 7,700 shares of the real estate investment trust’s stock worth $876,000 after buying an additional 3,500 shares in the last quarter. Voya Investment Management LLC grew its position in Lamar Advertising by 8.4% during the first quarter. Voya Investment Management LLC now owns 76,219 shares of the real estate investment trust’s stock worth $8,672,000 after buying an additional 5,903 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in Lamar Advertising during the first quarter worth about $34,000. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $124.33 on Wednesday. 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 firm has a market cap of $12.58 billion, a P/E ratio of 28.91 and a beta of 1.38. The firm has a 50 day simple moving average of $124.54 and a 200 day simple moving average of $119.21. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly 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. The business had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Sell-side analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.0%. Lamar Advertising’s dividend payout ratio (DPR) is currently 144.19%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LAMR shares. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company decreased 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. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Finally, Morgan Stanley lifted 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $134.20.

Insider Buying and Selling at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were 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 is available at this link. 14.99% of the stock is currently owned by corporate insiders.

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.