Paradigm Asset Management Co. LLC Cuts Position in Lamar Advertising (NASDAQ:LAMR)

Paradigm Asset Management Co. LLC reduced its stake in Lamar Advertising (NASDAQ:LAMRFree Report) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,800 shares of the real estate investment trust’s stock after selling 300 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Lamar Advertising were worth $1,148,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LAMR. Private Advisor Group LLC grew its position 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 acquiring an additional 398 shares during the last quarter. Signaturefd LLC lifted 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 period. NBC Securities Inc. acquired a new stake in Lamar Advertising in the third quarter valued at $258,000. Cape Investment Advisory Inc. lifted its holdings in Lamar Advertising by 11.9% in the third quarter. Cape Investment Advisory Inc. now owns 2,449 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 261 shares during the period. Finally, Meixler Investment Management Ltd. lifted its holdings in Lamar Advertising by 28.9% in the third quarter. Meixler Investment Management Ltd. now owns 20,715 shares of the real estate investment trust’s stock valued at $1,729,000 after acquiring an additional 4,642 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $594,850.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $1,189,700. The disclosure for this sale can be found here. 14.98% of the stock is currently owned by corporate insiders.

Lamar Advertising Trading Up 1.0 %

LAMR traded up $1.18 during midday trading on Monday, hitting $119.86. The company’s stock had a trading volume of 285,800 shares, compared to its average volume of 411,016. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The firm has a market cap of $12.25 billion, a P/E ratio of 24.61 and a beta of 1.49. The firm has a 50-day moving average price of $116.35 and a two-hundred day moving average price of $109.55. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $122.22.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last released its quarterly earnings data 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). The firm had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, research analysts anticipate that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on Lamar Advertising

About Lamar Advertising

(Free Report)

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.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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