Parallel Advisors LLC Has $130,000 Stock Holdings in Lamar Advertising Company $LAMR

Parallel Advisors LLC boosted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 27.6% in the second quarter, Holdings Channel.com reports. The fund owned 1,068 shares of the real estate investment trust’s stock after buying an additional 231 shares during the quarter. Parallel Advisors LLC’s holdings in Lamar Advertising were worth $130,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. 1248 Management LLC acquired a new stake in Lamar Advertising during the 1st quarter worth $26,000. Golden State Wealth Management LLC acquired a new stake in Lamar Advertising during the 1st quarter worth $28,000. HHM Wealth Advisors LLC grew its holdings in Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 269 shares during the period. ST Germain D J Co. Inc. grew its holdings in shares of Lamar Advertising by 346.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 218 shares during the period. Finally, Truvestments Capital LLC grew its holdings in shares of Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.1%

Shares of NASDAQ:LAMR opened at $124.33 on Wednesday. The company’s 50-day moving average price is $124.54 and its two-hundred day moving average price is $119.21. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The stock has a market capitalization of $12.58 billion, a PE ratio of 28.91 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. The company had revenue of $579.31 million for 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. On average, equities analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, September 19th. Lamar Advertising’s dividend payout ratio is presently 144.19%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company decreased 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 report on Monday, August 11th. JPMorgan Chase & Co. decreased their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Two 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, the stock presently has a consensus rating of “Hold” and an average target price of $134.20.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Insiders own 14.99% of the company’s stock.

Lamar Advertising Company 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.