Waratah Capital Advisors Ltd. Sells 309,349 Shares of Lamar Advertising (NASDAQ:LAMR)

Waratah Capital Advisors Ltd. reduced its position in shares of Lamar Advertising (NASDAQ:LAMRGet Rating) by 42.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 416,240 shares of the real estate investment trust’s stock after selling 309,349 shares during the period. Lamar Advertising accounts for about 0.6% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 15th biggest position. Waratah Capital Advisors Ltd. owned approximately 0.41% of Lamar Advertising worth $48,359,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new position in shares of Lamar Advertising in the fourth quarter worth about $33,000. Janney Montgomery Scott LLC increased its stake in shares of Lamar Advertising by 8.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,780 shares of the real estate investment trust’s stock worth $1,429,000 after purchasing an additional 932 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Lamar Advertising in the fourth quarter worth about $5,335,000. Commonwealth Equity Services LLC grew its stake in Lamar Advertising by 1.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 29,905 shares of the real estate investment trust’s stock valued at $3,627,000 after acquiring an additional 312 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new position in Lamar Advertising during the fourth quarter valued at approximately $238,000. Institutional investors own 78.03% of the company’s stock.

Insider Transactions at Lamar Advertising

In related news, Director Anna Reilly sold 10,000 shares of the company’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $90.17, for a total transaction of $901,700.00. Following the completion of the sale, the director now directly owns 145,928 shares in the company, valued at approximately $13,158,327.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 14.99% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock traded up $0.55 during midday trading on Friday, reaching $100.62. The company had a trading volume of 250,829 shares, compared to its average volume of 493,393. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.64 and a quick ratio of 0.71. Lamar Advertising has a 1 year low of $83.96 and a 1 year high of $124.32. The company has a market capitalization of $10.21 billion, a P/E ratio of 22.41 and a beta of 1.38. The firm has a 50-day moving average price of $93.29 and a 200-day moving average price of $103.65.

Lamar Advertising (NASDAQ:LAMRGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Lamar Advertising had a net margin of 23.52% and a return on equity of 37.09%. During the same period last year, the business posted $1.75 earnings per share. On average, research analysts anticipate that Lamar Advertising will post 6.95 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 20th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.77%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, June 16th. Lamar Advertising’s payout ratio is presently 106.90%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $103.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com cut shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 2nd. Finally, Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $112.00 to $108.00 in a research note on Thursday, July 7th.

Lamar Advertising Company Profile

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Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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