Mangrove Partners IM LLC Purchases New Stake in Lamar Advertising Company $LAMR

Mangrove Partners IM LLC purchased a new stake in Lamar Advertising Company (NASDAQ:LAMR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,816 shares of the real estate investment trust’s stock, valued at approximately $989,000.

Other institutional investors have also recently modified their holdings of the company. Tucker Asset Management LLC purchased a new stake in shares of Lamar Advertising in the fourth quarter valued at approximately $25,000. Sound Income Strategies LLC boosted its stake in shares of Lamar Advertising by 151.0% in the fourth quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 151 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Lamar Advertising in the third quarter valued at approximately $33,000. Beacon Financial Strategies CORP purchased a new stake in shares of Lamar Advertising in the fourth quarter valued at approximately $35,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Lamar Advertising in the third quarter valued at approximately $39,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lamar Advertising

In other news, EVP Ross Lamar Reilly sold 5,969 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $128.65, for a total value of $767,911.85. Following the completion of the transaction, the executive vice president directly owned 15,850 shares of the company’s stock, valued at $2,039,102.50. The trade was a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LAMR shares. UBS Group set a $150.00 price target on Lamar Advertising in a research note on Monday, February 23rd. TD Cowen lifted their price target on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Morgan Stanley set a $145.00 target price on Lamar Advertising in a research report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their target price on Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Lamar Advertising Stock Down 2.3%

LAMR opened at $150.99 on Wednesday. The business’s fifty day moving average is $144.09 and its two-hundred day moving average is $135.21. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 27.86 and a beta of 1.20. Lamar Advertising Company has a one year low of $113.66 and a one year high of $158.69.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. Analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, June 16th. Lamar Advertising’s payout ratio is presently 118.08%.

Lamar Advertising Company 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.