Gilman Hill Asset Management LLC Sells 4,544 Shares of Lamar Advertising (NASDAQ:LAMR)

Gilman Hill Asset Management LLC cut its holdings in Lamar Advertising (NASDAQ:LAMRFree Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 95,216 shares of the real estate investment trust’s stock after selling 4,544 shares during the period. Lamar Advertising accounts for about 2.0% of Gilman Hill Asset Management LLC’s holdings, making the stock its 7th biggest position. Gilman Hill Asset Management LLC owned 0.09% of Lamar Advertising worth $11,370,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LAMR. State of Michigan Retirement System boosted its stake in shares of Lamar Advertising by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock valued at $2,236,000 after purchasing an additional 100 shares during the period. Toronto Dominion Bank grew its position in shares of Lamar Advertising by 1.2% during the third quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust’s stock worth $801,000 after acquiring an additional 112 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Lamar Advertising by 1.5% in the 4th quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust’s stock worth $842,000 after acquiring an additional 116 shares during the period. Rosenberg Matthew Hamilton increased its stake in shares of Lamar Advertising by 4.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,841 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 118 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in shares of 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 period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.98% of the company’s stock.

Lamar Advertising Stock Down 0.9 %

NASDAQ LAMR traded down $1.12 on Tuesday, reaching $116.78. The stock had a trading volume of 65,824 shares, compared to its average volume of 399,158. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $122.22. The business has a 50 day moving average price of $116.73 and a 200 day moving average price of $112.18. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 24.21 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.71). The business had revenue of $498.15 million for the quarter, compared to the consensus estimate of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. Lamar Advertising’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. On average, analysts forecast 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 given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.45%. The ex-dividend date is Monday, June 17th. Lamar Advertising’s payout ratio is 106.78%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted 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. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Finally, Morgan Stanley boosted their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th.

Get Our Latest Report on Lamar Advertising

About Lamar Advertising

(Free Report)

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.

Further Reading

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

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