Lamar Advertising Co. (LAMR) Shares Bought by First Trust Advisors LP
First Trust Advisors LP raised its position in shares of Lamar Advertising Co. (NASDAQ:LAMR) by 42.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,996 shares of the company’s stock after buying an additional 72,628 shares during the period. First Trust Advisors LP owned 0.25% of Lamar Advertising worth $15,935,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Artemis Investment Management LLP boosted its position in shares of Lamar Advertising by 61.3% in the second quarter. Artemis Investment Management LLP now owns 318,656 shares of the company’s stock worth $21,131,000 after buying an additional 121,096 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Lamar Advertising by 0.8% in the second quarter. Prudential Financial Inc. now owns 118,949 shares of the company’s stock valued at $7,886,000 after buying an additional 990 shares in the last quarter. Oakbrook Investments LLC raised its position in shares of Lamar Advertising by 13.7% in the second quarter. Oakbrook Investments LLC now owns 4,150 shares of the company’s stock valued at $275,000 after buying an additional 500 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of Lamar Advertising by 12.7% in the second quarter. BlackRock Advisors LLC now owns 45,512 shares of the company’s stock valued at $3,017,000 after buying an additional 5,132 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Lamar Advertising by 13.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 124,738 shares of the company’s stock valued at $8,270,000 after buying an additional 15,069 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lamar Advertising Co. (NASDAQ:LAMR) traded up 0.39% during mid-day trading on Monday, reaching $66.53. The company’s stock had a trading volume of 206,419 shares. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 21.91 and a beta of 1.45. Lamar Advertising Co. has a 12 month low of $49.73 and a 12 month high of $69.35. The company’s 50-day moving average is $63.27 and its 200 day moving average is $64.08.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Lamar Advertising had a net margin of 20.06% and a return on equity of 28.50%. The firm earned $387.50 million during the quarter, compared to analysts’ expectations of $386.68 million. During the same period in the previous year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Lamar Advertising Co. will post $3.07 EPS for the current year.
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Several brokerages recently issued reports on LAMR. Loop Capital began coverage on Lamar Advertising in a research report on Monday, September 12th. They set a “buy” rating for the company. Zacks Investment Research lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.75.
In related news, CFO Keith A. Istre sold 25,000 shares of Lamar Advertising stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $61.04, for a total transaction of $1,526,000.00. Following the completion of the sale, the chief financial officer now owns 151,199 shares in the company, valued at approximately $9,229,186.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.66% of the company’s stock.
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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