Steinberg Global Asset Management Has $4.12 Million Stake in Lamar Advertising Co (LAMR)

Share on StockTwits

Steinberg Global Asset Management increased its stake in shares of Lamar Advertising Co (NASDAQ:LAMR) by 0.4% during the 1st quarter, Holdings Channel reports. The firm owned 64,782 shares of the real estate investment trust’s stock after purchasing an additional 282 shares during the quarter. Steinberg Global Asset Management’s holdings in Lamar Advertising were worth $4,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Taylor Hoffman Wealth Management bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $26,000. Whittier Trust Co. increased its position in shares of Lamar Advertising by 336.2% during the 4th quarter. Whittier Trust Co. now owns 458 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 353 shares during the last quarter. Tributary Capital Management LLC bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $42,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Lamar Advertising by 70.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 316 shares during the last quarter. Finally, ERTS Wealth Advisors LLC bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $75,000. 82.27% of the stock is currently owned by hedge funds and other institutional investors.

In other Lamar Advertising news, CFO Keith A. Istre sold 22,263 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $76.84, for a total value of $1,710,688.92. Following the completion of the sale, the chief financial officer now directly owns 135,185 shares in the company, valued at approximately $10,387,615.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean E. Reilly sold 50,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $78.64, for a total value of $3,932,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,869 shares of company stock valued at $14,202,746. 15.64% of the stock is owned by company insiders.

LAMR has been the subject of a number of recent analyst reports. Imperial Capital restated an “outperform” rating and set a $88.00 price objective (down previously from $94.00) on shares of Lamar Advertising in a report on Wednesday, January 23rd. BidaskClub cut Lamar Advertising from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Finally, MKM Partners boosted their price objective on Lamar Advertising to $81.00 and gave the company a “neutral” rating in a report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $78.50.

LAMR traded down $0.06 during trading hours on Monday, reaching $81.15. 136,436 shares of the company’s stock traded hands, compared to its average volume of 380,711. Lamar Advertising Co has a 52-week low of $61.84 and a 52-week high of $81.37. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.37. The stock has a market cap of $8.05 billion, a P/E ratio of 14.75 and a beta of 1.00.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.38). Lamar Advertising had a net margin of 18.76% and a return on equity of 28.12%. The business had revenue of $427.90 million for the quarter, compared to analysts’ expectations of $426.29 million. During the same quarter in the previous year, the firm earned $0.88 EPS. Lamar Advertising’s revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Lamar Advertising Co will post 5.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.96 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.84 dividend on an annualized basis and a yield of 4.73%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.92. Lamar Advertising’s payout ratio is presently 69.82%.

WARNING: “Steinberg Global Asset Management Has $4.12 Million Stake in Lamar Advertising Co (LAMR)” was posted by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/4295423/steinberg-global-asset-management-has-4-12-million-stake-in-lamar-advertising-co-lamr.html.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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.

Featured Story: What are municipal bonds?

Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising Co (NASDAQ:LAMR).

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Maxim Group Reaffirms Hold Rating for Pure Storage
Maxim Group Reaffirms Hold Rating for Pure Storage
Morgan Stanley Raises Sempra Energy  Price Target to $142.00
Morgan Stanley Raises Sempra Energy Price Target to $142.00
Target  Given a $105.00 Price Target at Bank of America
Target Given a $105.00 Price Target at Bank of America
US Well Services  versus KLX Energy Services  Head-To-Head Review
US Well Services versus KLX Energy Services Head-To-Head Review
$864.60 Million in Sales Expected for Cabot Corp  This Quarter
$864.60 Million in Sales Expected for Cabot Corp This Quarter
Telsey Advisory Group Reaffirms “Outperform” Rating for Lowe’s Companies
Telsey Advisory Group Reaffirms “Outperform” Rating for Lowe’s Companies


© 2006-2019 Ticker Report