Lamar Advertising (NASDAQ:LAMR) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 46.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 218,138 shares of the real estate investment trust’s stock after selling 189,540 shares during the quarter. Clearbridge Investments LLC owned about 0.21% of Lamar Advertising worth $23,184,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LAMR. Allspring Global Investments Holdings LLC boosted its holdings 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 during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Lamar Advertising by 3.5% during the third quarter. Private Advisor Group LLC now owns 11,796 shares of the real estate investment trust’s stock worth $985,000 after purchasing an additional 398 shares during the last quarter. MGO One Seven LLC boosted its holdings 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 during the last quarter. Signaturefd LLC boosted its holdings 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 during the last quarter. Finally, NBC Securities Inc. acquired a new position in Lamar Advertising in the third quarter valued at $258,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Down 0.8 %

NASDAQ:LAMR opened at $118.68 on Friday. The business’s 50-day moving average is $116.27 and its two-hundred day moving average is $109.15. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $122.22. The firm has a market capitalization of $12.13 billion, a PE ratio of 24.37 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company had revenue of $498.15 million during the quarter, compared to analysts’ expectations of $496.98 million. During the same period last year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

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 given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Monday, June 17th. Lamar Advertising’s payout ratio is 106.78%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LAMR shares. Morgan Stanley lifted their target price on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research report on Monday, February 26th.

Insider Transactions at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $1,189,700. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director John E. Koerner III sold 17,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total value of $2,040,850.00. Following the completion of the sale, the director now directly owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $1,189,700. The disclosure for this sale can be found here. Corporate insiders own 14.98% of the company’s stock.

Lamar Advertising 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.