Gabelli Funds LLC Purchases 4,582 Shares of Lamar Advertising Company $LAMR

Gabelli Funds LLC lifted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,678 shares of the real estate investment trust’s stock after purchasing an additional 4,582 shares during the period. Gabelli Funds LLC’s holdings in Lamar Advertising were worth $9,459,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sivia Capital Partners LLC purchased a new stake in Lamar Advertising in the 2nd quarter worth approximately $510,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Lamar Advertising by 250.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust’s stock valued at $5,777,000 after buying an additional 34,002 shares during the period. Amundi raised its holdings in shares of Lamar Advertising by 224.6% during the second quarter. Amundi now owns 2,048 shares of the real estate investment trust’s stock valued at $255,000 after acquiring an additional 1,417 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in Lamar Advertising in the second quarter worth $873,000. Finally, Cerity Partners LLC lifted its stake in Lamar Advertising by 39.0% in the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust’s stock worth $4,510,000 after acquiring an additional 10,423 shares during the period. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Performance

LAMR stock opened at $159.46 on Monday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 1 year low of $113.66 and a 1 year high of $164.38. The company has a market cap of $16.18 billion, a P/E ratio of 29.42 and a beta of 1.19. The stock’s fifty day moving average price is $154.55 and its 200-day moving average price is $140.75.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $522.86 million. On average, equities analysts forecast that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.0%. Lamar Advertising’s dividend payout ratio is presently 118.08%.

Analyst Ratings Changes

A number of research analysts have issued reports on LAMR shares. TD Cowen boosted their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a research report on Thursday, May 7th. Wells Fargo & Company lifted their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $145.00 to $160.00 in a research report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $154.67.

Lamar Advertising Profile

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.