Lamar Advertising Company (LAMR) Shares Sold by Morningstar Investment Services LLC
Morningstar Investment Services LLC cut its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 632,217 shares of the real estate investment trust’s stock after selling 22,979 shares during the period. Morningstar Investment Services LLC owned about 0.64% of Lamar Advertising worth $43,326,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LAMR. Westpac Banking Corp bought a new position in shares of Lamar Advertising in the 2nd quarter worth $176,000. Penserra Capital Management LLC raised its position in shares of Lamar Advertising by 9.5% in the 2nd quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 214 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of Lamar Advertising in the 2nd quarter worth $204,000. Alpha Cubed Investments LLC bought a new position in shares of Lamar Advertising in the 3rd quarter worth $211,000. Finally, SPC Financial Inc. bought a new position in shares of Lamar Advertising in the 2nd quarter worth $221,000. 85.52% of the stock is owned by institutional investors and hedge funds.
LAMR has been the subject of several recent research reports. Morgan Stanley reduced their price target on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. MKM Partners reduced their target price 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. BidaskClub lowered Lamar Advertising from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $66.00 target price (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 assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $73.00.
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Shares of Lamar Advertising Company (NASDAQ LAMR) traded down $0.74 during trading hours on Thursday, reaching $75.56. The company had a trading volume of 607,700 shares, compared to its average volume of 604,661. Lamar Advertising Company has a 12 month low of $62.45 and a 12 month high of $79.09. The firm has a market cap of $6,410.00, a price-to-earnings ratio of 15.29, a P/E/G ratio of 5.27 and a beta of 1.14. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.23.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.34). Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The business had revenue of $399.30 million for the quarter, compared to analyst estimates of $392.10 million. During the same period in the prior year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. equities analysts predict that Lamar Advertising Company will post 4.83 earnings per share for the current fiscal year.
About Lamar Advertising
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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