Advisors Management Group Inc. ADV Has $5.58 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Advisors Management Group Inc. ADV reduced its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,697 shares of the real estate investment trust’s stock after selling 582 shares during the period. Lamar Advertising accounts for approximately 1.4% of Advisors Management Group Inc. ADV’s investment portfolio, making the stock its 24th biggest position. Advisors Management Group Inc. ADV’s holdings in Lamar Advertising were worth $5,582,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in shares of Lamar Advertising by 3.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 15,173 shares of the real estate investment trust’s stock valued at $1,814,000 after acquiring an additional 504 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Lamar Advertising during the second quarter valued at about $243,000. Hantz Financial Services Inc. bought a new position in shares of Lamar Advertising during the 2nd quarter worth about $4,328,000. International Assets Investment Management LLC acquired a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $69,000. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $265,000. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR traded up $1.77 during mid-day trading on Friday, reaching $125.78. 451,479 shares of the company’s stock were exchanged, compared to its average volume of 406,794. The firm has a 50-day moving average price of $118.82 and a two-hundred day moving average price of $116.56. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $12.86 billion, a price-to-earnings ratio of 25.83 and a beta of 1.52. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $125.89.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The firm had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same period in the prior year, the company earned $1.90 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts predict that Lamar Advertising will post 7.69 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.45%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date is Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 106.78%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LAMR shares. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a report on Thursday, July 11th. TD Cowen boosted their price objective on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $123.25.

About Lamar Advertising

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.