Lamar Advertising (NASDAQ:LAMR) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 7.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 13,634 shares of the real estate investment trust’s stock after selling 1,072 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Lamar Advertising were worth $1,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LAMR. Financial Synergies Wealth Advisors Inc. acquired a new position in Lamar Advertising in the first quarter worth about $25,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Lamar Advertising in the 3rd quarter worth approximately $30,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Lamar Advertising in the 4th quarter valued at approximately $30,000. Quarry LP increased its holdings in shares of Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Lamar Advertising by 85.8% during the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR opened at $119.53 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. The company’s 50-day moving average price is $117.31 and its 200 day moving average price is $112.50. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $122.22. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 24.54 and a beta of 1.50.

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 for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). The company 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 revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, sell-side analysts expect that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Monday, June 17th. Lamar Advertising’s payout ratio is 106.78%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st.

Insider Activity

In related news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction dated 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 sale, the director now owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 14.98% of the company’s stock.

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.