Janney Montgomery Scott LLC Cuts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Janney Montgomery Scott LLC lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,102 shares of the real estate investment trust’s stock after selling 817 shares during the period. Janney Montgomery Scott LLC’s holdings in Lamar Advertising were worth $5,219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LAMR. Allspring Global Investments Holdings LLC grew its stake in shares of Lamar Advertising by 31.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,396 shares of the real estate investment trust’s stock worth $784,000 after purchasing an additional 2,236 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Lamar Advertising by 7.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,234 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 218 shares in the last quarter. Private Advisor Group LLC boosted its stake in Lamar Advertising by 3.5% in the third quarter. Private Advisor Group LLC now owns 11,796 shares of the real estate investment trust’s stock valued at $985,000 after acquiring an additional 398 shares in the last quarter. MGO One Seven LLC boosted its stake in Lamar Advertising by 69.3% in the third quarter. MGO One Seven LLC now owns 5,285 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 2,163 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Lamar Advertising by 43.7% in the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Insider Buying and Selling

In related news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, the director now directly owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction dated 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 directly owns 10,000 shares of the company’s stock, valued at $1,189,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Koerner III sold 17,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the transaction, the director now directly owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The disclosure for this sale can be found here. 14.98% of the stock is currently owned by corporate insiders.

Lamar Advertising Price Performance

Shares of LAMR opened at $120.74 on Wednesday. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $122.22. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 24.79 and a beta of 1.49. The firm has a 50-day simple moving average of $116.12 and a 200-day simple moving average of $108.83. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. During the same quarter last year, the company posted $1.41 EPS. Lamar Advertising’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $5.20 annualized dividend and a dividend yield of 4.31%. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

Analysts Set New Price Targets

Several research firms have issued reports on LAMR. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Morgan Stanley upped their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th.

About Lamar Advertising

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.