Advisor Group Holdings Inc. Makes New Investment in Lamar Advertising Co (NASDAQ:LAMR)

Advisor Group Holdings Inc. purchased a new position in Lamar Advertising Co (NASDAQ:LAMR) during the 1st quarter, Holdings Channel reports. The fund purchased 56,879 shares of the real estate investment trust’s stock, valued at approximately $2,804,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mine & Arao Wealth Creation & Management LLC. bought a new position in Lamar Advertising in the fourth quarter worth approximately $26,000. Flagship Harbor Advisors LLC raised its position in Lamar Advertising by 80.8% in the first quarter. Flagship Harbor Advisors LLC now owns 631 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 282 shares during the period. Ancora Advisors LLC bought a new position in Lamar Advertising in the fourth quarter worth approximately $38,000. Capital Bank & Trust Co bought a new position in Lamar Advertising in the fourth quarter worth approximately $39,000. Finally, Advisory Alpha LLC bought a new position in Lamar Advertising in the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 78.22% of the company’s stock.

In related news, Director John E. Koerner III bought 17,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $66.32 per share, with a total value of $1,127,440.00. Company insiders own 15.02% of the company’s stock.

Several analysts have recently commented on the stock. TheStreet downgraded shares of Lamar Advertising from a “b-” rating to a “c” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. decreased their price objective on shares of Lamar Advertising from $74.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Imperial Capital decreased their price objective on shares of Lamar Advertising from $93.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, April 3rd. Morgan Stanley raised their price objective on shares of Lamar Advertising from $52.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. Finally, MKM Partners decreased their price objective on shares of Lamar Advertising from $92.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $66.00.

LAMR opened at $66.52 on Tuesday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 18.53 and a beta of 1.38. The company has a fifty day moving average of $68.55 and a 200 day moving average of $73.16. Lamar Advertising Co has a fifty-two week low of $30.89 and a fifty-two week high of $96.82. The company has a debt-to-equity ratio of 3.91, a quick ratio of 1.46 and a current ratio of 1.46.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company had revenue of $406.57 million during the quarter, compared to analysts’ expectations of $396.04 million. Lamar Advertising had a net margin of 20.35% and a return on equity of 31.25%. Lamar Advertising’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. On average, equities research analysts forecast that Lamar Advertising Co will post 4.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 19th. This represents a $2.00 annualized dividend and a yield of 3.01%. Lamar Advertising’s payout ratio is 34.48%.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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