Allworth Financial LP Increases Stock Holdings in Lamar Advertising Company $LAMR

Allworth Financial LP boosted its stake in Lamar Advertising Company (NASDAQ:LAMR) by 52.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,592 shares of the real estate investment trust’s stock after buying an additional 550 shares during the quarter. Allworth Financial LP’s holdings in Lamar Advertising were worth $193,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Hamlin Capital Management LLC lifted its position in shares of Lamar Advertising by 2.1% during the second quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock valued at $162,431,000 after purchasing an additional 26,893 shares in the last quarter. Northern Trust Corp lifted its position in shares of Lamar Advertising by 0.4% during the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock worth $145,967,000 after buying an additional 4,495 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lamar Advertising by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock worth $126,258,000 after buying an additional 7,426 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Lamar Advertising by 4.3% in the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock worth $76,698,000 after buying an additional 27,823 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Lamar Advertising by 426.0% in the first quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust’s stock valued at $74,340,000 after acquiring an additional 533,959 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $129.30 on Wednesday. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $135.91. The stock has a market cap of $13.10 billion, a PE ratio of 30.07 and a beta of 1.36. The stock has a fifty day moving average of $122.51 and a 200-day moving average of $122.08.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. The business had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 4.8%. Lamar Advertising’s payout ratio is currently 145.54%.

Insider Buying and Selling

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 14.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LAMR. Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a report on Thursday, November 13th. Wells Fargo & Company decreased their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Finally, Citigroup lifted their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.75.

Lamar Advertising 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.