Summit Investment Advisors Inc. Trims Stake in Lamar Advertising Company $LAMR

Summit Investment Advisors Inc. lessened its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 7.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 30,977 shares of the real estate investment trust’s stock after selling 2,537 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Lamar Advertising were worth $3,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in LAMR. 1248 Management LLC acquired a new stake in shares of Lamar Advertising in the first quarter valued at approximately $26,000. Ameritas Advisory Services LLC acquired a new stake in Lamar Advertising during the 2nd quarter worth $28,000. HHM Wealth Advisors LLC grew its position 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 worth $31,000 after purchasing an additional 269 shares during the last quarter. Truvestments Capital LLC increased its stake in Lamar Advertising by 79.5% in the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 140 shares during the period. Finally, MAI Capital Management raised its holdings in shares of Lamar Advertising by 44.0% in the first quarter. MAI Capital Management now owns 360 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered 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. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.20.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.99% of the company’s stock.

Lamar Advertising Stock Up 5.3%

Lamar Advertising stock opened at $126.35 on Friday. The stock’s 50 day moving average price is $122.45 and its 200 day moving average price is $121.32. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $135.91. The company has a market cap of $12.79 billion, a PE ratio of 29.38 and a beta of 1.36. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last released 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. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The company had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. On average, sell-side analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. Lamar Advertising’s dividend payout ratio (DPR) is 145.54%.

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.