Ellevest Inc. grew its position in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 1,286.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 610 shares of the real estate investment trust's stock after acquiring an additional 566 shares during the period. Ellevest Inc.'s holdings in Lamar Advertising were worth $50,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in Lamar Advertising by 64.8% in the second quarter. Quadrant Capital Group LLC now owns 290 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 114 shares during the last quarter. CWM LLC increased its stake in shares of Lamar Advertising by 40.4% in the third quarter. CWM LLC now owns 389 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 112 shares during the period. Private Trust Co. NA bought a new position in Lamar Advertising in the 2nd quarter valued at approximately $35,000. Parallel Advisors LLC boosted its position in Lamar Advertising by 102.1% during the 2nd quarter. Parallel Advisors LLC now owns 681 shares of the real estate investment trust's stock worth $60,000 after buying an additional 344 shares during the period. Finally, Allworth Financial LP grew its holdings in Lamar Advertising by 56.0% during the 3rd quarter. Allworth Financial LP now owns 794 shares of the real estate investment trust's stock worth $65,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Insider Transactions at Lamar Advertising

In other news, Director Thomas V. Reifenheiser sold 2,200 shares of the stock in a transaction on Monday, November 28th. The shares were sold at an average price of $98.61, for a total transaction of $216,942.00. Following the completion of the sale, the director now directly owns 39,671 shares in the company, valued at $3,911,957.31. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 14.99% of the company's stock.

Lamar Advertising Trading Up 0.8 %

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Monday, December 19th were issued a dividend of $1.20 per share. The ex-dividend date was Friday, December 16th. This represents a $4.80 annualized dividend and a yield of 4.79%. Lamar Advertising's payout ratio is 98.36%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Lamar Advertising in a research note on Wednesday, October 12th. They set a "buy" rating for the company.

Lamar Advertising Company Profile

(Get Rating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

Featured Stories

• Get a free copy of the StockNews.com research report on Lamar Advertising (LAMR)
• UiPath is the Blue-Collar AI Platform to Watch in 2023
• Is Canadian Solar Too Hot to Handle?
• CVS Health is Growing into an Integrated Healthcare Organization
• Is C3.ai Stock a ChatGPT Artificial Intelligence Play?
• NVIDIA Outlook Improving: Watchlist Candidate for 2023

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).

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.