CFO4Life Group LLC Cuts Stock Holdings in Lamar Advertising Company $LAMR

CFO4Life Group LLC cut its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 13.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,564 shares of the real estate investment trust’s stock after selling 415 shares during the period. CFO4Life Group LLC’s holdings in Lamar Advertising were worth $311,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAMR. Focus Partners Wealth raised its holdings in shares of Lamar Advertising by 14.6% during the first quarter. Focus Partners Wealth now owns 21,739 shares of the real estate investment trust’s stock valued at $2,473,000 after acquiring an additional 2,768 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Lamar Advertising by 0.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,106 shares of the real estate investment trust’s stock worth $11,785,000 after purchasing an additional 733 shares in the last quarter. Millennium Management LLC increased its position in shares of Lamar Advertising by 158.6% during the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after purchasing an additional 188,213 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Lamar Advertising by 5.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,357 shares of the real estate investment trust’s stock valued at $2,349,000 after purchasing an additional 944 shares during the last quarter. Finally, Meixler Investment Management Ltd. lifted its holdings in Lamar Advertising by 47.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the real estate investment trust’s stock valued at $1,171,000 after purchasing an additional 3,086 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Insider Buying and Selling at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.99% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $129.63 on Friday. The firm has a 50 day simple moving average of $122.51 and a 200-day simple moving average of $121.84. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 30.15 and a beta of 1.36. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $135.91.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The firm had revenue of $585.54 million for the quarter, compared to analyst estimates of $584.00 million. On average, analysts expect that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s dividend payout ratio is 145.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup increased their target price on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a research note on Thursday. Wells Fargo & Company lowered their target price on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Finally, Morgan Stanley increased 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, August 4th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $131.75.

About Lamar Advertising

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.