Mercer Global Advisors Inc. ADV Reduces Stock Position in Lamar Advertising (NASDAQ:LAMR)

Apply for advertising logoMercer Global Advisors Inc. ADV lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) by 40.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,339 shares of the real estate investment trust’s stock after selling 1,564 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Lamar Advertising were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LAMR. Securian Asset Management Inc. raised its position in Lamar Advertising by 1.3% during the fourth quarter. Securian Asset Management Inc. now owns 8,037 shares of the real estate investment trust’s stock valued at $759,000 after purchasing an additional 100 shares in the last quarter. Segment Wealth Management LLC lifted its holdings in Lamar Advertising by 19.3% in the fourth quarter. Segment Wealth Management LLC now owns 2,965 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 480 shares during the period. MGO One Seven LLC lifted its holdings in Lamar Advertising by 3.9% in the fourth quarter. MGO One Seven LLC now owns 4,882 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 185 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Lamar Advertising by 8.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 5,105 shares of the real estate investment trust’s stock valued at $482,000 after purchasing an additional 388 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Lamar Advertising by 5.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 47,240 shares of the real estate investment trust’s stock valued at $4,460,000 after purchasing an additional 2,618 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equity analysts have recently issued reports on the stock. StockNews.com started coverage on shares of Lamar Advertising in a report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th. Finally, Citigroup boosted their price objective on shares of Lamar Advertising from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st.

Insider Activity

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In other news, CFO Jay Lecoryelle Johnson sold 6,000 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $95.63, for a total transaction of $573,780.00. Following the sale, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $1,912,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Corporate insiders own 14.90% of the company’s stock.

Apply for Advertising Trading Up 0.7 %

Shares of Lamar Advertising stock opened at $91.10 on Friday. The company has a market capitalization of $9.28 billion, a P/E ratio of 21.95 and a beta of 1.38. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.51 and a current ratio of 0.51. The company has a fifty day moving average of $98.04 and a 200 day moving average of $99.12. Lamar Advertising has a fifty-two week low of $81.10 and a fifty-two week high of $111.49.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.58). The firm had revenue of $471.33 million during the quarter, compared to the consensus estimate of $470.51 million. Lamar Advertising had a return on equity of 34.70% and a net margin of 20.59%. During the same period in the prior year, the company posted $1.50 EPS. On average, sell-side analysts anticipate that Lamar Advertising will post 7.25 earnings per share for the current fiscal year.

Apply for Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, June 19th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 5.49%. The ex-dividend date is Thursday, June 15th. Lamar Advertising’s payout ratio is currently 120.48%.

Apply for Advertising Company Profile

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Lamar Advertising Co engages in advertising services. The firm rents advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.

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Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising (NASDAQ:LAMR – Get Rating).

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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