Wedbush Securities Inc. Has $275,000 Position in Lamar Advertising Company $LAMR

Wedbush Securities Inc. increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 21.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,262 shares of the real estate investment trust’s stock after purchasing an additional 402 shares during the period. Wedbush Securities Inc.’s holdings in Lamar Advertising were worth $275,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Savant Capital LLC increased its position in Lamar Advertising by 100.5% in the 2nd quarter. Savant Capital LLC now owns 27,240 shares of the real estate investment trust’s stock valued at $3,306,000 after acquiring an additional 13,652 shares in the last quarter. Ethos Financial Group LLC raised its position in Lamar Advertising by 9.0% in the 2nd quarter. Ethos Financial Group LLC now owns 8,572 shares of the real estate investment trust’s stock worth $1,040,000 after purchasing an additional 709 shares during the last quarter. Anchor Capital Advisors LLC lifted its holdings in Lamar Advertising by 15.9% during the 2nd quarter. Anchor Capital Advisors LLC now owns 464,066 shares of the real estate investment trust’s stock worth $56,319,000 after buying an additional 63,746 shares in the last quarter. Trillium Asset Management LLC acquired a new position in Lamar Advertising during the 2nd quarter worth $3,188,000. Finally, Ellevest Inc. bought a new position in Lamar Advertising in the 2nd quarter valued at $280,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock opened at $130.23 on Thursday. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 30.09 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. The company has a 50 day simple moving average of $122.49 and a 200 day simple moving average of $121.64. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The firm 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%. Research analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. lifted 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. Weiss Ratings lowered Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. Finally, 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 research report on Monday, August 4th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $129.25.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.99% of the stock is owned by corporate insiders.

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.