Commonwealth Equity Services LLC reduced its holdings in Lamar Advertising Company (REIT) (NASDAQ:LAMR) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,060 shares of the real estate investment trust’s stock after selling 255 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lamar Advertising were worth $2,055,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Marshall Wace LLP increased its holdings in shares of Lamar Advertising by 2,197.9% in the second quarter. Marshall Wace LLP now owns 119,974 shares of the real estate investment trust’s stock worth $8,009,000 after acquiring an additional 114,753 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Lamar Advertising during the second quarter worth about $1,726,000. FMR LLC boosted its position in shares of Lamar Advertising by 462.1% during the second quarter. FMR LLC now owns 48,162 shares of the real estate investment trust’s stock worth $3,215,000 after buying an additional 39,594 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in shares of Lamar Advertising during the second quarter worth about $461,000. Finally, Raymond James & Associates boosted its position in shares of Lamar Advertising by 102.1% during the second quarter. Raymond James & Associates now owns 81,041 shares of the real estate investment trust’s stock worth $5,410,000 after buying an additional 40,944 shares during the period. Institutional investors own 77.42% of the company’s stock.
Several research firms have recently weighed in on LAMR. ValuEngine raised Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Monday, November 2nd. Wolfe Research raised Lamar Advertising from an “underperform” rating to a “peer perform” rating and set a $73.00 price objective for the company in a research report on Monday, July 27th. MKM Partners upped their price objective on Lamar Advertising from $67.00 to $80.00 in a research report on Wednesday, November 11th. BidaskClub raised Lamar Advertising from a “strong sell” rating to a “sell” rating in a research report on Monday, November 2nd. Finally, Morgan Stanley raised Lamar Advertising from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $77.00 to $81.00 in a research report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Lamar Advertising has a consensus rating of “Hold” and an average target price of $72.33.
Shares of NASDAQ LAMR opened at $76.23 on Friday. Lamar Advertising Company has a 52 week low of $30.89 and a 52 week high of $96.82. The stock has a market capitalization of $7.69 billion, a PE ratio of 32.44 and a beta of 1.32. The stock has a 50 day moving average price of $69.93 and a 200 day moving average price of $67.60. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.13 and a current ratio of 1.13.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Tuesday, November 10th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.56). Lamar Advertising had a net margin of 16.38% and a return on equity of 23.81%. The business had revenue of $386.10 million during the quarter, compared to analyst estimates of $377.13 million. During the same period in the previous year, the business earned $0.99 earnings per share. The business’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, research analysts forecast that Lamar Advertising Company will post 4.71 EPS for the current year.
In other news, CFO Jay Lecoryelle Johnson sold 3,011 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $73.51, for a total value of $221,338.61. Following the completion of the sale, the chief financial officer now directly owns 11,821 shares of the company’s stock, valued at $868,961.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.02% of the company’s stock.
Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 385,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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