Raymond James Financial Services Advisors Inc. Increases Position in Lamar Advertising (NASDAQ:LAMR)

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMRGet Rating) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,241 shares of the real estate investment trust’s stock after acquiring an additional 3,133 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.06% of Lamar Advertising worth $5,134,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in shares of Lamar Advertising by 64.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 290 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 114 shares during the period. Private Trust Co. NA purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at approximately $35,000. Parallel Advisors LLC grew its stake in shares of Lamar Advertising by 102.1% in the 2nd quarter. Parallel Advisors LLC now owns 681 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 344 shares during the period. Allworth Financial LP grew its stake in shares of Lamar Advertising by 56.0% in the 3rd quarter. Allworth Financial LP now owns 794 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 285 shares during the period. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at approximately $80,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Lamar Advertising

In related news, Director Thomas V. Reifenheiser sold 2,200 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $98.61, for a total value of $216,942.00. Following the sale, the director now owns 39,671 shares in the company, valued at approximately $3,911,957.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 14.99% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Lamar Advertising in a report on Wednesday, October 12th. They issued a “buy” rating on the stock.

Lamar Advertising Price Performance

LAMR stock opened at $101.41 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $10.31 billion, a PE ratio of 20.78 and a beta of 1.36. Lamar Advertising has a 12-month low of $81.10 and a 12-month high of $119.68. The business’s fifty day moving average price is $95.22 and its 200 day moving average price is $93.87.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Monday, December 19th were issued a $1.20 dividend. The ex-dividend date was Friday, December 16th. This represents a $4.80 annualized dividend and a dividend yield of 4.73%. Lamar Advertising’s dividend payout ratio is presently 98.36%.

About Lamar Advertising

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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.

See Also

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

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