B. Riley Wealth Advisors Inc. Sells 558 Shares of Lamar Advertising (NASDAQ:LAMR)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 16.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,870 shares of the real estate investment trust’s stock after selling 558 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Lamar Advertising were worth $305,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Cary Street Partners Investment Advisory LLC acquired a new position in Lamar Advertising during the 3rd quarter worth approximately $30,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Lamar Advertising during the 4th quarter worth approximately $30,000. Quarry LP boosted its position in Lamar Advertising by 70.4% during the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 133 shares during the last quarter. Arlington Trust Co LLC acquired a new position in Lamar Advertising during the 4th quarter worth approximately $57,000. Finally, Sunbelt Securities Inc. boosted its position in Lamar Advertising by 249.0% during the 3rd 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 last quarter. 93.78% of the stock is owned by institutional investors.

Insider Activity

In other news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $120.05, for a total value of $2,040,850.00. Following the completion of the sale, the director now owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 14.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st.

Lamar Advertising Trading Down 0.7 %

NASDAQ LAMR opened at $116.98 on Thursday. The company has a market cap of $11.96 billion, a PE ratio of 24.02 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 has a 12 month low of $77.21 and a 12 month high of $122.22. The stock has a 50 day moving average of $116.99 and a 200-day moving average of $112.30.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). The company had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. On average, equities research analysts anticipate that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, June 17th. Lamar Advertising’s payout ratio is presently 106.78%.

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.