Lamar Advertising (NASDAQ:LAMR) Stock Holdings Lifted by Private Management Group Inc.

Private Management Group Inc. boosted its position in Lamar Advertising (NASDAQ:LAMR) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,661 shares of the real estate investment trust’s stock after purchasing an additional 31,102 shares during the quarter. Private Management Group Inc.’s holdings in Lamar Advertising were worth $18,882,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its position in Lamar Advertising by 43.4% in the 3rd quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock valued at $141,352,000 after purchasing an additional 512,182 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Lamar Advertising by 2.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust’s stock valued at $120,336,000 after purchasing an additional 39,292 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lamar Advertising by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,009,456 shares of the real estate investment trust’s stock valued at $84,259,000 after buying an additional 6,314 shares during the period. Makaira Partners LLC increased its stake in Lamar Advertising by 31.7% during the 3rd quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust’s stock valued at $63,159,000 after buying an additional 182,111 shares during the period. Finally, HighTower Advisors LLC increased its stake in Lamar Advertising by 23.7% during the 3rd quarter. HighTower Advisors LLC now owns 600,059 shares of the real estate investment trust’s stock valued at $50,128,000 after buying an additional 115,006 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.98% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR traded up $0.93 during midday trading on Tuesday, reaching $114.64. The company’s stock had a trading volume of 235,145 shares, compared to its average volume of 408,344. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. The company has a 50 day moving average price of $113.86 and a 200 day moving average price of $104.13. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 23.64 and a beta of 1.50.

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

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.30 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising’s payout ratio is presently 107.22%.

Analysts Set New Price Targets

LAMR has been the topic of several research analyst reports. Morgan Stanley raised their target price 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. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price 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.

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.