OLD National Bancorp IN Raises Stock Holdings in Lamar Advertising Company $LAMR

OLD National Bancorp IN lifted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 168.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,711 shares of the real estate investment trust’s stock after acquiring 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Glenmede Investment Management LP raised its position in shares of Lamar Advertising by 3.2% in the third quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 81 shares during the last quarter. REAP Financial Group LLC boosted its position in Lamar Advertising by 13.5% during the fourth quarter. REAP Financial Group LLC now owns 706 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 84 shares during the last quarter. Greenleaf Trust boosted its position in Lamar Advertising by 1.6% during the fourth quarter. Greenleaf Trust now owns 5,540 shares of the real estate investment trust’s stock worth $701,000 after acquiring an additional 87 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Lamar Advertising by 0.5% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 19,435 shares of the real estate investment trust’s stock worth $2,460,000 after acquiring an additional 88 shares during the period. Finally, Alliance Wealth Advisors LLC grew its stake in Lamar Advertising by 2.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 3,510 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 1.1%

Shares of LAMR stock opened at $156.00 on Friday. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 28.78 and a beta of 1.20. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. Lamar Advertising Company has a fifty-two week low of $113.66 and a fifty-two week high of $158.69. The firm’s 50 day moving average price is $147.28 and its two-hundred day moving average price is $136.29.

Lamar Advertising (NASDAQ:LAMR) last released 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 company had revenue of $528.00 million during the quarter, compared to analyst estimates of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. On average, analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

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

Wall Street Analyst Weigh In

LAMR has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Wells Fargo & Company lifted their price objective on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. TD Cowen upped their target price on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Morgan Stanley set a $145.00 price target on Lamar Advertising in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $148.00.

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.