Lamar Advertising (NASDAQ:LAMR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in Lamar Advertising (NASDAQ:LAMR) by 33.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,748 shares of the real estate investment trust’s stock after selling 34,776 shares during the quarter. Russell Investments Group Ltd.’s holdings in Lamar Advertising were worth $7,307,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Miller Howard Investments Inc. NY increased its position in shares of Lamar Advertising by 6.2% during the fourth quarter. Miller Howard Investments Inc. NY now owns 390,474 shares of the real estate investment trust’s stock worth $41,500,000 after purchasing an additional 22,778 shares in the last quarter. Algert Global LLC raised its position in shares of Lamar Advertising by 12.0% in the third quarter. Algert Global LLC now owns 90,105 shares of the real estate investment trust’s stock valued at $7,521,000 after buying an additional 9,640 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Lamar Advertising by 43.7% in the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Acadian Asset Management LLC boosted its position in Lamar Advertising by 13.7% during the third quarter. Acadian Asset Management LLC now owns 7,982 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 963 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Lamar Advertising by 11.0% during the 4th quarter. Raymond James & Associates now owns 334,343 shares of the real estate investment trust’s stock valued at $35,534,000 after acquiring an additional 33,036 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $117.51 on Wednesday. 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 company has a market capitalization of $11.99 billion, a PE ratio of 24.13 and a beta of 1.49. The firm’s 50-day moving average is $115.30 and its two-hundred day moving average is $106.49. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $121.99.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). The firm had revenue of $498.15 million for 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 firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. Analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s dividend payout ratio is 106.78%.

Insider Transactions at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction dated 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 directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 14.98% of the company’s stock.

Analyst Ratings Changes

LAMR has been the topic of several recent research reports. Morgan Stanley boosted their target price on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th.

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.