A number of other large investors also recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new stake in shares of Lamar Advertising during the first quarter valued at about $169,000. Creative Planning raised its stake in shares of Lamar Advertising by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 290 shares during the last quarter. HL Financial Services LLC bought a new stake in shares of Lamar Advertising during the first quarter valued at about $217,000. Two Sigma Securities LLC bought a new stake in shares of Lamar Advertising during the first quarter valued at about $220,000. Finally, SPC Financial Inc. bought a new stake in shares of Lamar Advertising during the second quarter valued at about $221,000. Institutional investors and hedge funds own 85.82% of the company’s stock.
Texas Permanent School Fund increased its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,957 shares of the real estate investment trust’s stock after buying an additional 991 shares during the period. Texas Permanent School Fund’s holdings in Lamar Advertising were worth $4,485,000 as of its most recent SEC filing.
Shares of Lamar Advertising Company (NASDAQ LAMR) opened at 71.11 on Wednesday. Lamar Advertising Company has a 12 month low of $58.68 and a 12 month high of $79.09. The firm’s 50-day moving average is $72.50 and its 200 day moving average is $73.41.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by $0.49. Lamar Advertising had a net margin of 19.18% and a return on equity of 27.42%. The company had revenue of $346.40 million for the quarter, compared to analysts’ expectations of $347.06 million. During the same period last year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that Lamar Advertising Company will post $3.12 EPS for the current fiscal year.
Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. MKM Partners reiterated a “neutral” rating and set a $72.00 target price (down from $73.00) on shares of Lamar Advertising in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Loop Capital reiterated a “buy” rating and set a $87.00 target price on shares of Lamar Advertising in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $77.25.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the completion of the sale, the director now directly owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 18.66% of the company’s stock.
Lamar Advertising Company 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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