Lamar Advertising (NASDAQ:LAMR) Stocks Boosted by Steward Partners Investment Advisory LLC


Steward Partners Investment Advisory LLC raised its position in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) by 2.7% in the 1st quarter, reports Holdings Channel. The fund held 7,737 shares of the real estate investment trust after purchasing an additional 200 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lamar Advertising were worth $899,000 when it last filed with the SEC.

Several other institutional investors also changed their LAMR holdings. Goldman Sachs Group Inc. increased its position in shares of Lamar Advertising by 22.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 634,654 shares of the real estate investment trust worth $76,985,000 after acquiring an additional 115,374 shares in the last quarter. Eudaimonia Advisors LLC purchased a new stock position in Lamar Advertising during the fourth quarter for a value of approximately $13,389,000. Daiwa Securities Group Inc. increased its position in Lamar Advertising by 7.5% in Q4. Daiwa Securities Group Inc. now owns 1,421,294 shares of the real estate investment trust worth $172,403,000 after purchasing an additional 98,651 shares last quarter. Mackenzie Financial Corp increased its position in Lamar Advertising by 332.1% in the fourth quarter. Mackenzie Financial Corp now owns 124,824 shares of the real estate investment trust valued at $15,141,000 after buying an additional 95,934 shares last quarter. Finally, Waratah Capital Advisors Ltd. increased its position in Lamar Advertising by 14.5% in the 4th quarter. Waratah Capital Advisors Ltd. now owns 725,589 shares of the real estate investment trust worth $88,014,000 after purchasing an additional 92,080 shares last quarter. Institutional investors hold 78.03% of the company’s shares.

Lamar Advertising Price Performance

NASDAQ LAMR shares opened at $96.22 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt ratio of 2.43. Lamar Advertising has a 12-month low of $83.96 and a 12-month high of $124.32. The company has a market capitalization of $9.76 billion, a price-earnings ratio of 22.12 and a beta of 1.36. The company has a 50-day moving average of $92.71 and a two-hundred-day moving average of $104.45.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last released its quarterly earnings data on Thursday, May 5. The real estate investment trust reported EPS of $0.91 for the quarter, beating consensus analyst estimates of $0.73 from $0.18. Lamar Advertising achieved a net margin of 23.66% and a return on equity of 35.97%. The company posted revenue of $451.40 million in the quarter, compared to analyst estimates of $427.21 million. In the same period a year earlier, the company earned earnings per share of $1.15. The company’s quarterly revenue increased 21.7% year over year. As a group, analysts expect Lamar Advertising to post earnings per share of 6.95 for the current fiscal year.

Lamar Advertising increases the dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Monday, June 20 received a dividend of $1.20 per share. The ex-dividend date was Thursday, June 16. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. This represents a dividend of $4.80 on an annualized basis and a yield of 4.99%. Lamar Advertising’s dividend payout ratio is currently 110.35%.

Analysts set new price targets

LAMR has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Lamar Advertising from a “strong buy” rating to a “buy” rating in a Thursday, June 2 research report. Morgan Stanley downgraded shares of Lamar Advertising from an “overweight” rating to an “equal weight” rating and lowered its target price for the company from $135.00 to $103.00 in a Friday 10 research report. June. Citigroup downgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating and lowered its price target for the company from $112.00 to $108.00 in a Thursday, July 7, report. Finally, Wolfe Research began covering shares of Lamar Advertising in a Tuesday, March 29 report. They issued a “market performance” rating and a price target of $131.00 for the company. Two investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “moderate buy” and a consensus target price of $114.00.

Insider Buying and Selling at Lamar Advertising

In other news, Manager Anna Reilly sold 10,000 shares in a trade that took place on Thursday, June 23. The shares were sold at an average price of $90.17, for a total value of $901,700.00. Following the completion of the sale, the director now directly owns 145,928 shares of the company, valued at $13,158,327.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders own 14.99% of the shares of the company.

Lamar advertising profile

(Get a rating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of advertising formats from billboards, interstate logos, transit and airports, helping local businesses and national brands reach large audiences every day.

Featured articles

Want to see which other hedge funds hold LAMR? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Lamar Advertising (NASDAQ:LAMR – Get Rating).

Institutional ownership by quarter for Lamar Advertising (NASDAQ:LAMR)



Get news and reviews for Lamar Advertising Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Lamar Advertising and related companies with MarketBeat.com’s free daily email newsletter.

Comments are closed.