Lamar Advertising Company (LAMR) Shares Bought by Riverhead Capital Management LLC
Riverhead Capital Management LLC lifted its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 28.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,657 shares of the real estate investment trust’s stock after acquiring an additional 3,917 shares during the period. Riverhead Capital Management LLC’s holdings in Lamar Advertising were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Penserra Capital Management LLC bought a new position in shares of Lamar Advertising in the 1st quarter worth about $169,000. Westpac Banking Corp bought a new position in shares of Lamar Advertising in the 2nd quarter worth about $176,000. Two Sigma Securities LLC bought a new position in shares of Lamar Advertising in the 1st quarter worth about $220,000. SPC Financial Inc. bought a new position in shares of Lamar Advertising in the 2nd quarter worth about $221,000. Finally, Creative Planning raised its position in shares of Lamar Advertising by 4.7% in the 2nd quarter. Creative Planning now owns 3,042 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 136 shares in the last quarter. 85.09% of the stock is owned by hedge funds and other institutional investors.
LAMR has been the subject of several research analyst reports. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Loop Capital reissued a “buy” rating and issued a $87.00 price objective on shares of Lamar Advertising in a research report on Friday, June 9th. MKM Partners lowered their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday, August 9th. Finally, Zacks Investment Research raised Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $73.40.
Shares of Lamar Advertising Company (NASDAQ LAMR) opened at 63.94 on Friday. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 20.97 and a beta of 1.11. Lamar Advertising Company has a 12 month low of $58.68 and a 12 month high of $79.09. The company has a 50-day moving average price of $65.90 and a 200-day moving average price of $71.09.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.37). Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The company had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $399.09 million. During the same quarter last year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that Lamar Advertising Company will post $3.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.83 dividend. The ex-dividend date is Thursday, September 14th. This represents a $3.32 annualized dividend and a yield of 5.19%. Lamar Advertising’s dividend payout ratio (DPR) is presently 109.21%.
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About Lamar Advertising
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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