Oppenheimer Asset Management Inc. Sells 2,152 Shares of Lamar Advertising Company $LAMR

Oppenheimer Asset Management Inc. lessened its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 42.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,905 shares of the real estate investment trust’s stock after selling 2,152 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lamar Advertising were worth $353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LAMR. AQR Capital Management LLC increased its holdings in Lamar Advertising by 426.0% in the 1st quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust’s stock valued at $74,340,000 after buying an additional 533,959 shares during the period. Nuveen LLC bought a new stake in shares of Lamar Advertising in the 1st quarter worth about $40,699,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Lamar Advertising by 181.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust’s stock worth $41,410,000 after purchasing an additional 234,735 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Lamar Advertising by 158.6% in the 1st quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after purchasing an additional 188,213 shares during the last quarter. Finally, Easterly Investment Partners LLC grew its holdings in shares of Lamar Advertising by 269.4% in the 1st quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust’s stock worth $18,061,000 after purchasing an additional 115,762 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Up 2.1%

Shares of NASDAQ:LAMR opened at $118.59 on Monday. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $136.89. The company’s 50-day moving average price is $123.01 and its two-hundred day moving average price is $120.99. 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 has a market cap of $12.00 billion, a P/E ratio of 27.58 and a beta of 1.37.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping analysts’ consensus estimates 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 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. As a group, research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a dividend of $1.55 per share. The ex-dividend date was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 5.2%. Lamar Advertising’s dividend payout ratio is presently 144.19%.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s 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 filing with the SEC, which is available through this hyperlink. Insiders own 14.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Morgan Stanley lifted their target price 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. cut their target price 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.20.

Lamar Advertising Company 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.