Lamar Advertising (NASDAQ:LAMR) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 44.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,885 shares of the real estate investment trust’s stock after selling 1,510 shares during the quarter. Picton Mahoney Asset Management’s holdings in Lamar Advertising were worth $200,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LAMR. Charles Schwab Investment Management Inc. increased its holdings in shares of Lamar Advertising by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after purchasing an additional 30,567 shares during the period. Apollon Wealth Management LLC lifted its stake in Lamar Advertising by 66.5% in the fourth quarter. Apollon Wealth Management LLC now owns 7,204 shares of the real estate investment trust’s stock valued at $766,000 after acquiring an additional 2,877 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Lamar Advertising by 24.4% during the 4th quarter. Spire Wealth Management now owns 3,327 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 653 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Lamar Advertising in the fourth quarter worth $241,000. Finally, Natixis Advisors L.P. lifted its position in shares of Lamar Advertising by 22.8% during the 4th quarter. Natixis Advisors L.P. now owns 46,558 shares of the real estate investment trust’s stock worth $4,948,000 after buying an additional 8,635 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LAMR shares. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective 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 boosted their price target on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $119.49 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The company has a 50-day simple moving average of $115.64 and a 200 day simple moving average of $106.65. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $121.99. The company has a market capitalization of $12.20 billion, a PE ratio of 24.54 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results 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 business had revenue of $498.15 million during the quarter, compared to analysts’ expectations 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 was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 EPS. On average, research analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.20 annualized dividend and a yield of 4.35%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s dividend payout ratio is presently 106.78%.

Insider Buying and Selling at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction 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 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 SEC, which is accessible through this hyperlink. 14.98% of the stock is currently owned by corporate insiders.

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.