Paralel Advisors LLC Invests $3.95 Million in Lamar Advertising (NASDAQ:LAMR)

Paralel Advisors LLC bought a new stake in Lamar Advertising (NASDAQ:LAMRFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 37,168 shares of the real estate investment trust’s stock, valued at approximately $3,950,000. Lamar Advertising makes up approximately 0.2% of Paralel Advisors LLC’s holdings, making the stock its 22nd largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $30,000. Cary Street Partners Investment Advisory LLC acquired a new position in Lamar Advertising during the third quarter worth $30,000. Signaturefd LLC lifted its stake in shares of 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 buying an additional 150 shares in the last quarter. Arlington Trust Co LLC acquired a new position in shares of Lamar Advertising during the fourth quarter valued at about $57,000. Finally, Sunbelt Securities Inc. increased its holdings in Lamar Advertising by 249.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 503 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR traded up $1.18 during midday trading on Monday, reaching $119.86. The company had a trading volume of 285,800 shares, compared to its average volume of 411,016. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $122.22. The company’s 50 day moving average price is $116.42 and its 200 day moving average price is $109.75. 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 stock has a market cap of $12.25 billion, a P/E ratio of 24.61 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $496.98 million. During the same period in the prior year, the company earned $1.41 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently declared 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 is Monday, June 17th. This represents a $5.20 annualized dividend and a dividend yield of 4.34%. Lamar Advertising’s payout ratio is 106.78%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of 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 upped 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.

Check Out Our Latest Research Report on LAMR

Lamar Advertising Profile

(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.

Further Reading

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

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