Kestra Advisory Services LLC Sells 8,426 Shares of Lamar Advertising Company $LAMR

Kestra Advisory Services LLC cut its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 20.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,360 shares of the real estate investment trust’s stock after selling 8,426 shares during the period. Kestra Advisory Services LLC’s holdings in Lamar Advertising were worth $4,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. REAP Financial Group LLC grew its stake in Lamar Advertising by 9.3% in the third quarter. REAP Financial Group LLC now owns 948 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 81 shares during the last quarter. Platform Technology Partners lifted its holdings in shares of Lamar Advertising by 56.2% during the 3rd quarter. Platform Technology Partners now owns 2,549 shares of the real estate investment trust’s stock valued at $367,000 after purchasing an additional 917 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Lamar Advertising by 34.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,442 shares of the real estate investment trust’s stock worth $2,084,000 after purchasing an additional 3,439 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in Lamar Advertising during the 3rd quarter valued at about $42,000. Finally, MGO One Seven LLC boosted its holdings in Lamar Advertising by 2.3% in the third quarter. MGO One Seven LLC now owns 6,835 shares of the real estate investment trust’s stock worth $985,000 after acquiring an additional 152 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Down 1.8%

LAMR stock opened at $159.65 on Friday. Lamar Advertising Company has a 52-week low of $122.31 and a 52-week high of $166.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.16. The firm has a market cap of $16.21 billion, a P/E ratio of 18.54 and a beta of 1.23. The company’s 50-day simple moving average is $150.61 and its 200-day simple moving average is $145.97.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $1.65 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.60. This represents a $6.60 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, September 21st. Lamar Advertising’s dividend payout ratio (DPR) is currently 116.40%.

Insider Activity

In other news, CFO Jay Johnson sold 7,600 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $156.92, for a total transaction of $1,192,592.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Reifenheiser sold 8,099 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $149.03, for a total value of $1,206,993.97. Following the sale, the director owned 36,387 shares of the company’s stock, valued at approximately $5,422,754.61. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a research report on Wednesday, August 19th. Cfra lowered Lamar Advertising from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a report on Wednesday. Wells Fargo & Company lifted their target price on Lamar Advertising from $156.00 to $158.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Morgan Stanley set a $170.00 price objective on shares of Lamar Advertising in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $160.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 6th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $159.14.

Lamar Advertising Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.