Lamar Advertising Company $LAMR Shares Purchased by ProVise Management Group LLC

ProVise Management Group LLC increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 2.1% in the 2nd quarter, Holdings Channel reports. The firm owned 34,445 shares of the real estate investment trust’s stock after purchasing an additional 709 shares during the period. ProVise Management Group LLC’s holdings in Lamar Advertising were worth $4,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in Lamar Advertising by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 168 shares during the last quarter. 1248 Management LLC purchased a new position in shares of Lamar Advertising in the first quarter worth about $26,000. Ameritas Advisory Services LLC acquired a new position in Lamar Advertising during the second quarter worth about $28,000. HHM Wealth Advisors LLC grew its stake in Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 269 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 140 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $129.63 on Friday. The stock has a fifty day simple moving average of $122.51 and a 200-day simple moving average of $121.79. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The stock has a market cap of $13.12 billion, a PE ratio of 30.15 and a beta of 1.36. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $135.91.

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

Lamar Advertising Announces Dividend

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

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price 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. boosted their price objective on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup upped their target price on Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company reduced their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a report on Thursday. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $131.75.

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.