Marcum Wealth LLC Has $468,000 Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Marcum Wealth LLC cut its holdings in Lamar Advertising (NASDAQ:LAMR) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,918 shares of the real estate investment trust’s stock after selling 274 shares during the quarter. Marcum Wealth LLC’s holdings in Lamar Advertising were worth $468,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LAMR. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Lamar Advertising in the first quarter worth $25,000. Fidelis Capital Partners LLC acquired a new position in Lamar Advertising during the 1st quarter worth about $27,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Lamar Advertising during the 4th quarter worth about $30,000. Sound Income Strategies LLC lifted its position in Lamar Advertising by 85.8% during the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 145 shares during the period. Finally, Quarry LP increased its stake in shares of Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lamar Advertising

In other news, Director John E. Koerner III sold 17,000 shares of the business’s stock in a transaction that occurred 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 filing with the SEC, which is available at this hyperlink. Insiders own 14.98% of the company’s stock.

Lamar Advertising Trading Down 4.0 %

Shares of LAMR stock traded down $4.66 during mid-day trading on Monday, reaching $110.90. 733,231 shares of the stock traded hands, compared to its average volume of 410,227. The stock’s fifty day simple moving average is $117.91 and its two-hundred day simple moving average is $114.85. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $123.25. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 22.77 and a beta of 1.52. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39.

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 company had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. Lamar Advertising’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, research analysts anticipate that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, June 17th. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Analyst Ratings Changes

LAMR has been the subject of a number of research reports. TD Cowen initiated coverage on Lamar Advertising in a research note on Tuesday, July 16th. They set a “buy” rating and a $135.00 target price for the company. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $122.00.

Lamar Advertising Company 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.