Lamar Advertising (NASDAQ:LAMR) Position Reduced by Eudaimonia Advisors LLC

Eudaimonia Advisors LLC lessened its position in Lamar Advertising (NASDAQ:LAMR) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,554 shares of the real estate investment trust’s stock after selling 299 shares during the period. Lamar Advertising accounts for 7.4% of Eudaimonia Advisors LLC’s investment portfolio, making the stock its biggest position. Eudaimonia Advisors LLC owned approximately 0.11% of Lamar Advertising worth $11,431,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State of Michigan Retirement System lifted its position in Lamar Advertising by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock valued at $2,236,000 after purchasing an additional 100 shares during the period. Toronto Dominion Bank lifted its position in Lamar Advertising by 1.2% during the third quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust’s stock valued at $801,000 after purchasing an additional 112 shares during the last quarter. First Hawaiian Bank lifted its position in Lamar Advertising by 1.5% during the fourth quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust’s stock valued at $842,000 after purchasing an additional 116 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Lamar Advertising by 4.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,841 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 118 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Lamar Advertising by 3.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,656 shares of the real estate investment trust’s stock worth $305,000 after acquiring an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LAMR. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Morgan Stanley increased their price target on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th.

Lamar Advertising Price Performance

LAMR stock traded up $0.93 during trading on Tuesday, hitting $114.64. The stock had a trading volume of 235,145 shares, compared to its average volume of 408,344. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.52 and a quick ratio of 0.52. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99. The stock has a market capitalization of $11.70 billion, a P/E ratio of 23.74 and a beta of 1.50. The company’s 50-day moving average price is $113.65 and its two-hundred day moving average price is $103.88.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.49). The firm had revenue of $555.91 million for the quarter, compared to analysts’ expectations of $549.84 million. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. During the same period in the previous year, the firm posted $1.91 EPS. As a group, research analysts predict that Lamar Advertising will post 7.54 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.30 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.54%. Lamar Advertising’s payout ratio is presently 107.22%.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $1,189,700. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 14.98% 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.