Lamar Advertising Company (LAMR) Holdings Trimmed by CNA Financial Corp
CNA Financial Corp trimmed its position in Lamar Advertising Company (NASDAQ:LAMR) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,942 shares of the real estate investment trust’s stock after selling 3,983 shares during the period. CNA Financial Corp’s holdings in Lamar Advertising were worth $1,761,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new stake in Lamar Advertising in the first quarter valued at approximately $169,000. Westpac Banking Corp acquired a new stake in Lamar Advertising in the second quarter valued at approximately $176,000. HL Financial Services LLC acquired a new stake in Lamar Advertising in the first quarter valued at approximately $217,000. Two Sigma Securities LLC acquired a new stake in Lamar Advertising in the first quarter valued at approximately $220,000. Finally, SPC Financial Inc. acquired a new stake in Lamar Advertising in the second quarter valued at approximately $221,000. Institutional investors own 85.09% of the company’s stock.
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Shares of Lamar Advertising Company (NASDAQ LAMR) traded down 1.01% on Tuesday, hitting $62.99. 160,906 shares of the company traded hands. The company has a market capitalization of $6.18 billion, a PE ratio of 20.66 and a beta of 1.11. The stock’s 50-day moving average price is $66.95 and its 200-day moving average price is $71.41. Lamar Advertising Company has a 12 month low of $58.68 and a 12 month high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.37. The business had revenue of $397.10 million for the quarter, compared to analyst estimates of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. On average, equities analysts predict that Lamar Advertising Company will post $3.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Thursday, September 14th. Lamar Advertising’s dividend payout ratio is currently 109.21%.
LAMR has been the subject of several recent analyst reports. MKM Partners lowered their target price on shares of Lamar Advertising from $73.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Loop Capital reiterated a “buy” rating and set a $87.00 price objective on shares of Lamar Advertising in a research note on Friday, June 9th. BidaskClub upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $73.40.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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