Lamar Advertising (NASDAQ:LAMR) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC decreased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,319 shares of the real estate investment trust’s stock after selling 966 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lamar Advertising were worth $2,903,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake in shares of Lamar Advertising by 243.9% during the second quarter. Farther Finance Advisors LLC now owns 282 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 200 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Lamar Advertising in the 3rd quarter valued at approximately $30,000. Geneos Wealth Management Inc. raised its holdings in shares of Lamar Advertising by 93.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 359 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Lamar Advertising by 79.5% during the 4th quarter. Harbour Investments Inc. now owns 429 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 190 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Lamar Advertising by 43.7% during the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.7 %

NASDAQ LAMR opened at $116.05 on Wednesday. The firm’s fifty day moving average is $112.28 and its two-hundred day moving average is $101.74. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $11.85 billion, a PE ratio of 23.93 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.49). The company had revenue of $555.91 million during the quarter, compared to analyst estimates of $549.84 million. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. During the same quarter last year, the firm earned $1.91 EPS. Analysts expect that Lamar Advertising will post 7.54 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.48%. Lamar Advertising’s dividend payout ratio (DPR) is currently 107.22%.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on LAMR. JPMorgan Chase & Co. increased their target price on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, Morgan Stanley boosted their target price on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th.

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.