OLD National Bancorp IN Grows Stock Position in Lamar Advertising Company $LAMR

OLD National Bancorp IN raised its position in Lamar Advertising Company (NASDAQ:LAMR) by 168.4% in the 1st quarter, Holdings Channel reports. The fund owned 42,711 shares of the real estate investment trust’s stock after purchasing an additional 26,798 shares during the period. OLD National Bancorp IN’s holdings in Lamar Advertising were worth $5,410,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. M&T Bank Corp lifted its position in shares of Lamar Advertising by 12,278.7% during the fourth quarter. M&T Bank Corp now owns 1,147,876 shares of the real estate investment trust’s stock worth $145,298,000 after purchasing an additional 1,138,603 shares in the last quarter. Norges Bank acquired a new stake in Lamar Advertising during the 4th quarter valued at $104,705,000. AQR Capital Management LLC increased its stake in 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 buying an additional 816,217 shares during the period. Egerton Capital UK LLP purchased a new stake in Lamar Advertising during the 3rd quarter worth $88,615,000. Finally, Invesco Ltd. increased its stake in Lamar Advertising by 97.8% during the 3rd quarter. Invesco Ltd. now owns 991,990 shares of the real estate investment trust’s stock worth $121,439,000 after buying an additional 490,463 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LAMR. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Wells Fargo & Company lifted 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. Morgan Stanley set a $145.00 price target on Lamar Advertising in a research note on Thursday, May 7th. Finally, TD Cowen increased their price target on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Lamar Advertising Stock Performance

LAMR stock opened at $156.00 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The firm has a market cap of $15.83 billion, a P/E ratio of 28.78 and a beta of 1.20. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $158.69. The stock’s 50 day simple moving average is $147.28 and its 200 day simple moving average is $136.29.

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

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is presently 118.08%.

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.