State of Alaska Department of Revenue raised its position in Lamar Advertising (NASDAQ:LAMR) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,890 shares of the real estate investment trust’s stock after acquiring an additional 6,200 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Lamar Advertising worth $3,776,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new stake in shares of Lamar Advertising during the second quarter worth about $598,020,000. Renaissance Technologies LLC grew its holdings in Lamar Advertising by 251.7% during the 2nd quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock valued at $28,825,000 after buying an additional 280,388 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Lamar Advertising by 113.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 462,231 shares of the real estate investment trust’s stock valued at $31,676,000 after buying an additional 245,913 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in Lamar Advertising by 12.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,770,736 shares of the real estate investment trust’s stock valued at $121,349,000 after buying an additional 200,295 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Lamar Advertising by 8.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,596,148 shares of the real estate investment trust’s stock valued at $177,914,000 after buying an additional 192,925 shares in the last quarter. 84.41% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on LAMR shares. BidaskClub upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. ValuEngine lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Citigroup lowered Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price for the company. in a research report on Wednesday, December 20th. Morgan Stanley lifted their target price on Lamar Advertising from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, Zacks Investment Research downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $72.25.
Lamar Advertising (NASDAQ LAMR) traded up $0.98 during trading on Wednesday, reaching $68.03. The company’s stock had a trading volume of 855,878 shares, compared to its average volume of 603,109. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23. The stock has a market cap of $6,610.63, a P/E ratio of 21.17, a PEG ratio of 4.36 and a beta of 1.02. Lamar Advertising has a twelve month low of $62.45 and a twelve month high of $79.17.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the sale, the director now owns 11,031 shares in the company, valued at approximately $864,058.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 14.70% of the stock is currently owned by insiders.
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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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