ARP Americas LLC boosted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 86.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,917 shares of the real estate investment trust’s stock after buying an additional 3,200 shares during the quarter. ARP Americas LLC’s holdings in Lamar Advertising were worth $474,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Westpac Banking Corp acquired a new position in Lamar Advertising during the second quarter worth $176,000. Penserra Capital Management LLC increased its position in Lamar Advertising by 9.5% during the second quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 214 shares during the last quarter. Verity Asset Management Inc. acquired a new position in Lamar Advertising during the second quarter worth $204,000. SPC Financial Inc. acquired a new position in Lamar Advertising during the second quarter worth $221,000. Finally, Creative Planning increased its position in Lamar Advertising by 4.7% during the second quarter. Creative Planning now owns 3,042 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 136 shares during the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.
LAMR has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, September 18th. BidaskClub downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. MKM Partners lowered their price target on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $66.00 price target (down from $69.00) on shares of Lamar Advertising in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $73.00.
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Lamar Advertising Company (LAMR) traded down $0.38 during mid-day trading on Friday, reaching $75.02. The company had a trading volume of 925,900 shares, compared to its average volume of 705,345. Lamar Advertising Company has a fifty-two week low of $58.68 and a fifty-two week high of $79.09. The firm has a market capitalization of $7,354.44, a P/E ratio of 15.03, a PEG ratio of 5.18 and a beta of 1.14. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 2.23.
Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm had revenue of $399.30 million for the quarter, compared to analyst estimates of $392.10 million. During the same period last year, the business earned $0.87 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. research analysts predict that Lamar Advertising Company will post 4.83 EPS for the current fiscal year.
Lamar Advertising Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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