Lamar Advertising (LAMR) Stake Decreased by Beacon Financial Group
Beacon Financial Group cut its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 111,055 shares of the real estate investment trust’s stock after selling 4,636 shares during the quarter. Lamar Advertising comprises about 1.4% of Beacon Financial Group’s investment portfolio, making the stock its 23rd largest position. Beacon Financial Group owned approximately 0.11% of Lamar Advertising worth $8,245,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in LAMR. San Francisco Sentry Investment Group CA acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $164,000. Westpac Banking Corp acquired a new stake in Lamar Advertising during the 2nd quarter worth approximately $176,000. Verity Asset Management Inc. acquired a new stake in Lamar Advertising during the 2nd quarter worth approximately $204,000. Argent Trust Co acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $207,000. Finally, Alpha Cubed Investments LLC acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $211,000. Institutional investors and hedge funds own 84.35% of the company’s stock.
Lamar Advertising (LAMR) traded down $1.40 during mid-day trading on Wednesday, hitting $72.84. 600,000 shares of the stock were exchanged, compared to its average volume of 456,750. Lamar Advertising has a twelve month low of $62.45 and a twelve month high of $79.17. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $7,307.52, a P/E ratio of 23.12, a P/E/G ratio of 4.81 and a beta of 1.15.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 18th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.56%. Lamar Advertising’s dividend payout ratio (DPR) is presently 105.40%.
Several analysts have issued reports on the stock. BidaskClub downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Morgan Stanley lowered their price objective on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. Finally, Citigroup downgraded shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price objective for the company. in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $73.40.
In related news, Director Stephen P. Mumblow sold 4,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the transaction, the director now directly owns 11,031 shares in the company, valued at $864,058.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.70% of the company’s stock.
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About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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