Centiva Capital LP Sells 14,766 Shares of Lamar Advertising (NASDAQ:LAMR)

Centiva Capital LP lowered its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 67.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,087 shares of the real estate investment trust's stock after selling 14,766 shares during the quarter. Centiva Capital LP's holdings in Lamar Advertising were worth $947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LAMR. ClearAlpha Technologies LP acquired a new stake in Lamar Advertising during the third quarter valued at approximately $301,000. Semmax Financial Advisors Inc. lifted its holdings in shares of Lamar Advertising by 2.7% during the third quarter. Semmax Financial Advisors Inc. now owns 37,042 shares of the real estate investment trust's stock valued at $4,776,000 after acquiring an additional 959 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Lamar Advertising in the 3rd quarter worth about $3,223,000. Fred Alger Management LLC boosted its position in Lamar Advertising by 5.0% in the third quarter. Fred Alger Management LLC now owns 30,888 shares of the real estate investment trust's stock valued at $4,127,000 after buying an additional 1,458 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in Lamar Advertising during the third quarter worth about $342,000. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Trading Down 0.2 %

Shares of NASDAQ LAMR traded down $0.29 during midday trading on Friday, hitting $131.22. The stock had a trading volume of 281,515 shares, compared to its average volume of 409,178. The firm has a market cap of $13.43 billion, a P/E ratio of 26.30 and a beta of 1.50. Lamar Advertising has a fifty-two week low of $100.15 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The company's 50-day simple moving average is $132.50 and its 200 day simple moving average is $124.59.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the previous year, the business earned $2.04 earnings per share. Lamar Advertising's revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts anticipate that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.27%. Lamar Advertising's payout ratio is presently 112.00%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LAMR shares. Wells Fargo & Company cut their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. TD Cowen boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. StockNews.com lowered Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $132.40.

Lamar Advertising 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.