GAMMA Investing LLC Increases Stock Holdings in Lamar Advertising Company $LAMR

GAMMA Investing LLC raised its stake in Lamar Advertising Company (NASDAQ:LAMR) by 77.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,226 shares of the real estate investment trust’s stock after buying an additional 535 shares during the quarter. GAMMA Investing LLC’s holdings in Lamar Advertising were worth $149,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in Lamar Advertising by 66.7% in the second quarter. Farther Finance Advisors LLC now owns 4,077 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 1,631 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in Lamar Advertising by 0.4% in the second quarter. Miller Howard Investments Inc. NY now owns 319,350 shares of the real estate investment trust’s stock valued at $38,756,000 after buying an additional 1,322 shares during the last quarter. HF Advisory Group LLC lifted its position in shares of Lamar Advertising by 12.8% during the second quarter. HF Advisory Group LLC now owns 5,408 shares of the real estate investment trust’s stock worth $656,000 after purchasing an additional 612 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lamar Advertising by 42.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 60,551 shares of the real estate investment trust’s stock worth $7,522,000 after purchasing an additional 18,157 shares in the last quarter. Finally, Atticus Wealth Management LLC acquired a new stake in shares of Lamar Advertising during the second quarter worth about $344,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $120.92 on Tuesday. The firm has a market capitalization of $12.24 billion, a P/E ratio of 28.12 and a beta of 1.38. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The firm’s 50 day moving average is $124.27 and its two-hundred day moving average is $119.41.

Lamar Advertising (NASDAQ:LAMR) last announced 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. The company had revenue of $579.31 million for 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. Research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, September 19th. Lamar Advertising’s dividend payout ratio is currently 144.19%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Finally, Wells Fargo & Company reduced their price target on shares of 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. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $134.20.

Insider Activity

In other 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 transaction of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 14.99% of the company’s stock.

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.