Kornitzer Capital Management Inc. KS Purchases 3,468 Shares of Lamar Advertising (NASDAQ:LAMR)

Kornitzer Capital Management Inc. KS grew its position in shares of Lamar Advertising (NASDAQ:LAMR) by 53.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,968 shares of the real estate investment trust’s stock after purchasing an additional 3,468 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Lamar Advertising were worth $1,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LAMR. American Century Companies Inc. grew its position in Lamar Advertising by 106.4% during the 1st quarter. American Century Companies Inc. now owns 17,290 shares of the real estate investment trust’s stock worth $2,009,000 after acquiring an additional 8,912 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Lamar Advertising by 25.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,607 shares of the real estate investment trust’s stock worth $651,000 after acquiring an additional 1,146 shares during the last quarter. Citigroup Inc. grew its position in Lamar Advertising by 23.6% during the 1st quarter. Citigroup Inc. now owns 42,320 shares of the real estate investment trust’s stock worth $4,916,000 after acquiring an additional 8,070 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Lamar Advertising by 10.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 51,280 shares of the real estate investment trust’s stock worth $6,130,000 after acquiring an additional 5,052 shares during the last quarter. Finally, Cibc World Market Inc. grew its position in Lamar Advertising by 11.4% during the 1st quarter. Cibc World Market Inc. now owns 2,006 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 206 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price target on 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 raised their price target on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th.

Insider Activity

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.98% of the stock is currently owned by company insiders.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $111.44 on Monday. The firm has a market cap of $11.37 billion, a P/E ratio of 22.98 and a beta of 1.50. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $121.99. The business’s 50 day moving average price is $113.52 and its 200-day moving average price is $103.63. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). The business had revenue of $555.91 million during the quarter, compared to the consensus estimate of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same quarter in the prior year, the business posted $1.91 earnings per share. On average, equities research analysts anticipate that Lamar Advertising will post 7.54 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s dividend payout ratio (DPR) is presently 107.22%.

Lamar Advertising Company 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.