Levin Capital Strategies L.P. Sells 419 Shares of Lamar Advertising (NASDAQ:LAMR)

Levin Capital Strategies L.P. lessened its position in Lamar Advertising (NASDAQ:LAMR) by 18.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,851 shares of the real estate investment trust’s stock after selling 419 shares during the period. Levin Capital Strategies L.P.’s holdings in Lamar Advertising were worth $221,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Accurate Wealth Management LLC grew its position in Lamar Advertising by 3.8% during the first quarter. Accurate Wealth Management LLC now owns 2,449 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 90 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Lamar Advertising by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock worth $2,236,000 after buying an additional 100 shares during the last quarter. SPC Financial Inc. grew its stake in shares of Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 103 shares during the last quarter. Woodward Diversified Capital LLC boosted its stake in Lamar Advertising by 2.6% during the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 113 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Lamar Advertising by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Lamar Advertising stock traded up $0.11 during midday trading on Wednesday, reaching $119.86. The company had a trading volume of 466,774 shares, compared to its average volume of 404,527. 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 firm’s fifty day simple moving average is $117.98 and its 200-day simple moving average is $114.58. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $123.25. The company has a market capitalization of $12.25 billion, a P/E ratio of 24.92 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced 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). The firm had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 EPS. As a group, equities analysts anticipate that Lamar Advertising will post 7.69 EPS for the current year.

Lamar Advertising Dividend Announcement

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

Insider Transactions at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction that occurred on Friday, May 10th. The shares were 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 in the company, 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 the SEC website. Insiders own 14.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LAMR shares. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, TD Cowen initiated coverage on shares of Lamar Advertising in a report on Tuesday, July 16th. They set a “buy” rating and a $135.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $122.00.

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.