Lamar Advertising (NASDAQ:LAMR) Shares Sold by American International Group Inc.

American International Group Inc. lessened its stake in Lamar Advertising (NASDAQ:LAMR) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,874 shares of the real estate investment trust’s stock after selling 5,055 shares during the quarter. American International Group Inc. owned 0.12% of Lamar Advertising worth $12,634,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC acquired a new position in Lamar Advertising in the fourth quarter valued at approximately $30,000. Quarry LP lifted its stake in shares of Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 133 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in Lamar Advertising during the third quarter worth $30,000. Arlington Trust Co LLC acquired a new stake in Lamar Advertising during the fourth quarter valued at $57,000. Finally, Sunbelt Securities Inc. raised its position in shares of Lamar Advertising by 249.0% in the third quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 503 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LAMR shares. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Morgan Stanley increased their target price on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $114.61 on Monday. The stock has a 50 day moving average of $116.45 and a two-hundred day moving average of $111.67. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $122.22. The firm has a market cap of $11.72 billion, a P/E ratio of 23.53 and a beta of 1.50. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The firm had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same period in the prior year, the firm earned $1.41 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. On average, analysts expect that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

Insider Transactions at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the transaction, the director now directly owns 32,178 shares in the company, valued at $3,862,968.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.98% of the company’s stock.

About Lamar Advertising

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.