Beacon Pointe Advisors LLC Reduces Holdings in Lamar Advertising (NASDAQ:LAMR)

Beacon Pointe Advisors LLC lessened its position in shares of Lamar Advertising (NASDAQ:LAMR) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,681 shares of the real estate investment trust’s stock after selling 1,334 shares during the period. Beacon Pointe Advisors LLC’s holdings in Lamar Advertising were worth $1,029,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY lifted its position in shares of Lamar Advertising by 6.2% during the 4th quarter. Miller Howard Investments Inc. NY now owns 390,474 shares of the real estate investment trust’s stock valued at $41,500,000 after buying an additional 22,778 shares during the last quarter. Algert Global LLC lifted its position in shares of Lamar Advertising by 12.0% during the 3rd quarter. Algert Global LLC now owns 90,105 shares of the real estate investment trust’s stock valued at $7,521,000 after buying an additional 9,640 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lamar Advertising by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after buying an additional 30,567 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Lamar Advertising by 125.1% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 17,420 shares of the real estate investment trust’s stock worth $1,851,000 after purchasing an additional 9,680 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Lamar Advertising by 43.7% during the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John E. Koerner III sold 17,000 shares of the stock in a transaction on 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 approximately $3,862,968.90. The disclosure for this sale can be found here. Corporate insiders own 14.98% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $120.74 on Wednesday. The firm has a market capitalization of $12.34 billion, a P/E ratio of 24.79 and a beta of 1.49. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. The stock’s 50-day simple moving average is $116.19 and its two-hundred day simple moving average is $109.01. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $122.22.

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

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a yield of 4.31%. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LAMR. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Morgan Stanley increased their price objective on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday, February 26th.

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.