Assetmark Inc. Has $12.52 Million Holdings in Lamar Advertising Company $LAMR

Assetmark Inc. lifted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 31.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,270 shares of the real estate investment trust’s stock after purchasing an additional 24,391 shares during the period. Assetmark Inc. owned 0.10% of Lamar Advertising worth $12,520,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Lamar Advertising by 27.8% in the second quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock valued at $284,577,000 after purchasing an additional 510,025 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Lamar Advertising by 123.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock worth $177,152,000 after acquiring an additional 816,217 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Lamar Advertising by 0.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,299,419 shares of the real estate investment trust’s stock worth $157,697,000 after buying an additional 5,080 shares in the last quarter. Berkshire Hathaway Inc acquired a new stake in shares of Lamar Advertising in the 2nd quarter valued at approximately $141,931,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Lamar Advertising by 4.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,162,468 shares of the real estate investment trust’s stock valued at $141,077,000 after purchasing an additional 52,800 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Morgan Stanley set a $140.00 price target on Lamar Advertising in a research note on Tuesday, December 16th. Citigroup raised their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.00.

Lamar Advertising Stock Performance

Shares of LAMR opened at $131.79 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.04. The firm’s fifty day simple moving average is $128.99 and its two-hundred day simple moving average is $125.90. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $136.69. The stock has a market capitalization of $13.35 billion, a P/E ratio of 30.94 and a beta of 1.23.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, December 22nd. Lamar Advertising’s dividend payout ratio is presently 145.54%.

About Lamar Advertising

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.