Assetmark Inc. Grows Stock Holdings in Lamar Advertising Company $LAMR

Assetmark Inc. grew its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 113.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,879 shares of the real estate investment trust’s stock after purchasing an additional 41,409 shares during the quarter. Assetmark Inc.’s holdings in Lamar Advertising were worth $9,451,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Hamlin Capital Management LLC lifted its stake in Lamar Advertising by 2.1% in the 2nd quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock worth $162,431,000 after purchasing an additional 26,893 shares in the last quarter. Northern Trust Corp increased its holdings in Lamar Advertising by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock valued at $145,967,000 after purchasing an additional 4,495 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Lamar Advertising by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock valued at $126,258,000 after purchasing an additional 7,426 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Lamar Advertising by 5.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust’s stock valued at $104,431,000 after purchasing an additional 50,004 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Lamar Advertising by 4.3% in the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock valued at $76,698,000 after purchasing an additional 27,823 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LAMR has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Lamar Advertising in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.20.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $118.59 on Friday. The stock has a market cap of $12.00 billion, a P/E ratio of 27.58 and a beta of 1.37. The company has a fifty day simple moving average of $123.01 and a 200-day simple moving average of $120.90. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $136.89. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.74. The business had revenue of $579.31 million during the quarter, compared to analysts’ expectations of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Equities analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s payout ratio is 144.19%.

Lamar Advertising 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.