Boothbay Fund Management LLC Sells 18,533 Shares of Lamar Advertising (NASDAQ:LAMR)

Boothbay Fund Management LLC lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 91.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,799 shares of the real estate investment trust's stock after selling 18,533 shares during the quarter. Boothbay Fund Management LLC's holdings in Lamar Advertising were worth $219,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in Lamar Advertising during the 4th quarter valued at $25,000. Bessemer Group Inc. boosted its stake in Lamar Advertising by 106.7% in the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 143 shares during the period. Blue Trust Inc. grew its holdings in shares of Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 108 shares in the last quarter. Versant Capital Management Inc grew its position in Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Lamar Advertising Stock Performance

Shares of LAMR stock traded down $0.89 during trading on Friday, reaching $114.38. 347,570 shares of the company's stock were exchanged, compared to its average volume of 501,924. The stock has a market capitalization of $11.71 billion, a PE ratio of 32.40 and a beta of 1.38. The firm's fifty day moving average price is $113.11 and its 200-day moving average price is $122.46. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.42%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio (DPR) is currently 175.64%.

Analysts Set New Price Targets

LAMR has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Finally, Citigroup lifted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $132.60.

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.