Mirabella Financial Services LLP lessened its holdings in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 42.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the real estate investment trust's stock after selling 6,000 shares during the period. Mirabella Financial Services LLP's holdings in Lamar Advertising were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in LAMR. Quadrant Capital Group LLC raised its stake in Lamar Advertising by 64.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 290 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 114 shares during the period. Private Trust Co. NA bought a new position in Lamar Advertising during the 2nd quarter worth $35,000. Parallel Advisors LLC increased 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. Allworth Financial LP lifted its holdings in shares of Lamar Advertising by 56.0% during the third quarter. Allworth Financial LP now owns 794 shares of the real estate investment trust's stock worth $65,000 after buying an additional 285 shares in the last quarter. Finally, Alpha Paradigm Partners LLC bought a new stake in shares of Lamar Advertising in the second quarter valued at about $80,000. Institutional investors own 79.73% of the company's stock.
Get Lamar Advertising alerts:Lamar Advertising Price Performance
Lamar Advertising stock opened at $96.32 on Tuesday. The firm has a market cap of $9.79 billion, a PE ratio of 19.74 and a beta of 1.36. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.63 and a quick ratio of 0.63. The stock's fifty day moving average price is $94.91 and its two-hundred day moving average price is $93.77. Lamar Advertising has a one year low of $81.10 and a one year high of $119.68.
Lamar Advertising Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Monday, December 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Friday, December 16th. Lamar Advertising's payout ratio is currently 98.36%.Insider Buying and Selling
In related news, Director Thomas V. Reifenheiser sold 2,200 shares of the firm's stock in a transaction on Monday, November 28th. The stock was sold at an average price of $98.61, for a total value of $216,942.00. Following the transaction, the director now owns 39,671 shares in the company, valued at $3,911,957.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.99% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Lamar Advertising in a research report on Wednesday, October 12th. They set a "buy" rating on the stock.
Lamar Advertising Company Profile
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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.
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