Kennedy Capital Management LLC Sells 11,144 Shares of Lamar Advertising (NASDAQ:LAMR)

Kennedy Capital Management LLC lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 12.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 80,048 shares of the real estate investment trust’s stock after selling 11,144 shares during the quarter. Kennedy Capital Management LLC’s holdings in Lamar Advertising were worth $9,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Financial Synergies Wealth Advisors Inc. bought a new stake in Lamar Advertising during the first quarter worth $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Lamar Advertising during the 1st quarter valued at $27,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Lamar Advertising during the 4th quarter worth $30,000. Sound Income Strategies LLC boosted its holdings in shares of Lamar Advertising by 85.8% in the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 145 shares during the last quarter. Finally, Quarry LP grew its position in Lamar Advertising by 70.4% during the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR traded down $0.04 during trading hours on Tuesday, hitting $119.75. The company’s stock had a trading volume of 552,204 shares, compared to its average volume of 403,837. The business has a 50 day simple moving average of $118.00 and a two-hundred day simple moving average of $114.49. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $123.25. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 24.49 and a beta of 1.52.

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). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business had revenue of $498.15 million during the quarter, compared to the consensus estimate of $496.98 million. During the same period last year, the business posted $1.41 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.34%. Lamar Advertising’s payout ratio is 106.78%.

Insider Buying and Selling

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. 14.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LAMR has been the topic of a number of research analyst reports. TD Cowen began coverage on shares of Lamar Advertising in a research note on Tuesday, July 16th. They issued a “buy” rating and a $135.00 target price on the stock. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Lamar Advertising has an average rating of “Hold” and an average price target of $119.00.

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.