Lecap Asset Management Ltd. Takes Position in Lamar Advertising Company (NASDAQ:LAMR)

Lecap Asset Management Ltd. bought a new stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,364 shares of the real estate investment trust's stock, valued at approximately $2,317,000.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in shares of Lamar Advertising during the 4th quarter valued at $25,000. Bessemer Group Inc. increased its position in shares of Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 143 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 218 shares during the last quarter. McIlrath & Eck LLC increased its position in shares of Lamar Advertising by 175.1% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 450 shares during the last quarter. Finally, GeoWealth Management LLC increased its position in shares of Lamar Advertising by 100.8% during the 4th quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 388 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

LAMR traded down $0.32 during trading hours on Friday, hitting $120.85. The stock had a trading volume of 2,250,915 shares, compared to its average volume of 532,322. The company's fifty day simple moving average is $117.64 and its 200 day simple moving average is $119.35. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The stock has a market cap of $12.37 billion, a PE ratio of 29.33 and a beta of 1.34. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The business had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. Equities analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.55 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.20 annualized dividend and a yield of 5.13%. Lamar Advertising's dividend payout ratio is currently 150.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LAMR shares. Morgan Stanley decreased their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $134.00.

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.