Exane Derivatives Buys New Stake in Lamar Advertising (NASDAQ:LAMR)

Exane Derivatives bought a new stake in Lamar Advertising (NASDAQ:LAMRGet Rating) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,614 shares of the real estate investment trust’s stock, valued at approximately $142,000.

Other large investors also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC raised its position in Lamar Advertising by 94.2% during the first quarter. Mascoma Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 179 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lamar Advertising during the first quarter worth $46,000. Cambridge Trust Co. acquired a new position in Lamar Advertising during the first quarter worth $55,000. Rise Advisors LLC acquired a new position in Lamar Advertising during the fourth quarter worth $56,000. Finally, AdvisorNet Financial Inc raised its position in Lamar Advertising by 23.6% during the first quarter. AdvisorNet Financial Inc now owns 514 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 98 shares during the period. 80.15% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 3.0 %

Shares of LAMR opened at $90.15 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.43. Lamar Advertising has a 12-month low of $83.96 and a 12-month high of $124.32. The firm has a 50-day moving average price of $97.72 and a 200 day moving average price of $100.90. The firm has a market capitalization of $9.15 billion, a P/E ratio of 20.08 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMRGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Lamar Advertising had a net margin of 23.52% and a return on equity of 37.09%. During the same period last year, the company earned $1.75 earnings per share. Sell-side analysts forecast that Lamar Advertising will post 6.91 EPS for the current year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend is Friday, September 16th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.90%.

Insiders Place Their Bets

In other Lamar Advertising news, Director Anna Reilly sold 10,000 shares of the stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $90.17, for a total transaction of $901,700.00. Following the completion of the transaction, the director now owns 145,928 shares of the company’s stock, valued at $13,158,327.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Jay Lecoryelle Johnson sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $106.35, for a total value of $425,400.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $2,765,100. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anna Reilly sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $90.17, for a total transaction of $901,700.00. Following the completion of the transaction, the director now directly owns 145,928 shares of the company’s stock, valued at approximately $13,158,327.76. The disclosure for this sale can be found here. 14.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup upgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating and reduced their target price for the company from $112.00 to $108.00 in a research report on Thursday, July 7th. Morgan Stanley increased their target price on shares of Lamar Advertising from $103.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, August 4th. Finally, StockNews.com cut shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 2nd.

Lamar Advertising Company Profile

(Get Rating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

Further Reading

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

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