Lamar Advertising (NASDAQ:LAMR) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,689 shares of the real estate investment trust's stock after selling 9,560 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Lamar Advertising worth $15,058,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its holdings in Lamar Advertising by 3.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,907 shares of the real estate investment trust's stock valued at $841,000 after buying an additional 226 shares in the last quarter. Dorsey Wright & Associates purchased a new position in shares of Lamar Advertising during the 4th quarter worth approximately $263,000. Pictet Asset Management Holding SA increased its holdings in Lamar Advertising by 9.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust's stock valued at $1,466,000 after purchasing an additional 1,087 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Lamar Advertising by 5.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 115,970 shares of the real estate investment trust's stock valued at $14,118,000 after purchasing an additional 5,630 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Lamar Advertising during the fourth quarter worth $2,488,000. Hedge funds and other institutional investors own 93.78% of the company's stock.

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Lamar Advertising Stock Down 0.6 %

LAMR stock traded down $0.62 during trading on Monday, hitting $112.39. 37,953 shares of the company's stock were exchanged, compared to its average volume of 478,158. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 31.84 and a beta of 1.34. Lamar Advertising has a 52-week low of $99.84 and a 52-week high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The business has a 50-day moving average price of $118.38 and a two-hundred day moving average price of $125.15.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million during the quarter, compared to analysts' expectations of $583.19 million. As a group, equities research analysts expect that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $1.55 per share. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's dividend payout ratio is currently 175.64%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup raised their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $134.60.

Lamar Advertising Company Profile

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.