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StockNews.com Lowers Lamar Advertising (NASDAQ:LAMR) to Hold

kopsource · Jan 31, 2023 02:01

StockNews.com lowered shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) from a buy rating to a hold rating in a research note published on Friday.

Lamar Advertising Trading Down 1.1 %

NASDAQ:LAMR opened at $103.48 on Friday. The company has a market cap of $10.52 billion, a PE ratio of 21.20 and a beta of 1.36. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.38. The company has a 50 day simple moving average of $97.62 and a two-hundred day simple moving average of $95.05. Lamar Advertising has a 12 month low of $81.10 and a 12 month high of $119.68.

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Lamar Advertising Dividend Announcement

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. This represents a $4.80 annualized dividend and a yield of 4.64%. The ex-dividend date was Friday, December 16th. Lamar Advertising's dividend payout ratio is currently 98.36%.

Insider Buying and Selling

In other Lamar Advertising news, Director Thomas V. Reifenheiser sold 2,200 shares of the business's stock in a transaction on Monday, November 28th. The shares were sold at an average price of $98.61, for a total value of $216,942.00. Following the sale, the director now owns 39,671 shares in the company, valued at approximately $3,911,957.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 14.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Lamar Advertising

Several hedge funds have recently bought and sold shares of LAMR. Vanguard Group Inc. boosted its position in Lamar Advertising by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,086,290 shares of the real estate investment trust's stock valued at $1,520,365,000 after buying an additional 43,704 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Lamar Advertising by 15.0% in the third quarter. Victory Capital Management Inc. now owns 4,112,703 shares of the real estate investment trust's stock worth $339,257,000 after buying an additional 536,345 shares in the last quarter. State Street Corp grew its position in shares of Lamar Advertising by 1.5% in the third quarter. State Street Corp now owns 2,423,689 shares of the real estate investment trust's stock valued at $199,930,000 after purchasing an additional 36,807 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Lamar Advertising by 0.8% in the fourth quarter. DAVENPORT & Co LLC now owns 1,844,065 shares of the real estate investment trust's stock valued at $174,265,000 after purchasing an additional 14,433 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Lamar Advertising by 26.6% during the 3rd quarter. Boston Partners now owns 1,607,951 shares of the real estate investment trust's stock worth $132,674,000 after acquiring an additional 338,090 shares during the period. Institutional investors own 79.73% of the company's stock.

About Lamar Advertising

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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.