Inspire Investing LLC Purchases 1,577 Shares of Lamar Advertising (NASDAQ:LAMR)

Inspire Investing LLC lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,566 shares of the real estate investment trust’s stock after purchasing an additional 1,577 shares during the quarter. Inspire Investing LLC’s holdings in Lamar Advertising were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in Lamar Advertising during the fourth quarter valued at $111,255,000. Boston Partners raised its stake in Lamar Advertising by 32.7% during the fourth quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock valued at $313,871,000 after buying an additional 727,207 shares during the last quarter. Morningstar Investment Services LLC raised its stake in Lamar Advertising by 97.6% during the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock valued at $98,347,000 after buying an additional 451,429 shares during the last quarter. Norges Bank purchased a new position in Lamar Advertising during the fourth quarter valued at $38,406,000. Finally, Centersquare Investment Management LLC raised its stake in Lamar Advertising by 1,252.8% during the fourth quarter. Centersquare Investment Management LLC now owns 340,181 shares of the real estate investment trust’s stock valued at $36,154,000 after buying an additional 315,034 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Insider Activity at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the sale, the director now owns 32,178 shares in the company, valued at $3,862,968.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.98% of the stock is owned by company insiders.

Lamar Advertising Stock Up 2.0 %

Shares of LAMR stock traded up $2.30 during mid-day trading on Tuesday, hitting $120.00. The company’s stock had a trading volume of 257,139 shares, compared to its average volume of 402,236. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $122.22. The business has a 50-day moving average price of $117.94 and a 200 day moving average price of $113.38. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 24.49 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). The firm had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. Research analysts predict that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LAMR. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. TD Cowen began coverage on Lamar Advertising in a research note on Tuesday. They issued a “buy” rating and a $135.00 price target for the company. Finally, Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $119.00.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.