Boston Advisors LLC reduced its stake in shares of Lamar Advertising Co (NASDAQ:LAMR) by 11.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,913 shares of the real estate investment trust’s stock after selling 7,508 shares during the period. Boston Advisors LLC owned approximately 0.06% of Lamar Advertising worth $4,745,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of LAMR. FMR LLC grew its stake in Lamar Advertising by 5.5% during the 1st quarter. FMR LLC now owns 293,906 shares of the real estate investment trust’s stock valued at $23,295,000 after acquiring an additional 15,311 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Lamar Advertising by 72.5% in the 2nd quarter. WINTON GROUP Ltd now owns 8,296 shares of the real estate investment trust’s stock valued at $670,000 after buying an additional 3,486 shares during the period. First National Bank of Omaha grew its stake in shares of Lamar Advertising by 8.8% in the 2nd quarter. First National Bank of Omaha now owns 4,812 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 390 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in shares of Lamar Advertising by 13.7% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 5,524 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 666 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Lamar Advertising by 18.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,620 shares of the real estate investment trust’s stock valued at $2,713,000 after buying an additional 5,315 shares during the period. Institutional investors and hedge funds own 79.30% of the company’s stock.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $79.81, for a total transaction of $279,335.00. Following the transaction, the director now directly owns 5,580 shares of the company’s stock, valued at approximately $445,339.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.19% of the company’s stock.
Several research firms have recently weighed in on LAMR. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. BidaskClub cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. Finally, Imperial Capital decreased their price objective on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $80.75.
Shares of NASDAQ:LAMR traded up $0.24 during trading hours on Wednesday, reaching $83.98. The stock had a trading volume of 271,550 shares, compared to its average volume of 347,590. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.51 and a current ratio of 0.51. The firm’s 50 day moving average is $82.45 and its 200-day moving average is $80.40. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 15.27 and a beta of 0.95. Lamar Advertising Co has a 1 year low of $64.51 and a 1 year high of $85.00.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.08). Lamar Advertising had a return on equity of 32.10% and a net margin of 21.23%. The business had revenue of $457.80 million for the quarter, compared to analysts’ expectations of $452.91 million. During the same period in the previous year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Lamar Advertising Co will post 5.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Friday, December 13th. Lamar Advertising’s payout ratio is currently 69.82%.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
Featured Article: What Are Cryptocurrencies?
Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.