Acadian Asset Management LLC Raises Stake in Lamar Advertising (NASDAQ:LAMR)

Acadian Asset Management LLC increased its stake in Lamar Advertising (NASDAQ:LAMR) by 179.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,639 shares of the real estate investment trust’s stock after purchasing an additional 11,967 shares during the quarter. Acadian Asset Management LLC’s holdings in Lamar Advertising were worth $2,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LAMR. SPC Financial Inc. boosted its holdings in Lamar Advertising by 3.6% during the first quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 103 shares during the period. Woodward Diversified Capital LLC lifted its holdings in shares of Lamar Advertising by 2.6% during the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Lamar Advertising by 1.8% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock valued at $789,000 after acquiring an additional 114 shares during the period. Simplicity Wealth LLC grew its stake in shares of Lamar Advertising by 0.4% in the second quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock worth $3,301,000 after acquiring an additional 121 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Lamar Advertising by 1.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Up 1.5 %

LAMR opened at $129.44 on Friday. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $129.51. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 26.58 and a beta of 1.52. The firm’s 50-day simple moving average is $120.15 and its 200-day simple moving average is $117.73. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 EPS. Equities research analysts anticipate that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be given a dividend of $1.40 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.33%. Lamar Advertising’s dividend payout ratio is 106.78%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. TD Cowen increased their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average price target of $123.25.

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.