Advisors Asset Management Inc. Has $3.07 Million Stake in Lamar Advertising Company (LAMR)
Advisors Asset Management Inc. reduced its stake in Lamar Advertising Company (NASDAQ:LAMR) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,759 shares of the real estate investment trust’s stock after selling 854 shares during the period. Advisors Asset Management Inc.’s holdings in Lamar Advertising were worth $3,072,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Lamar Advertising by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 74,944 shares of the real estate investment trust’s stock valued at $5,039,000 after buying an additional 8,452 shares during the last quarter. Creative Planning raised its position 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. Capstone Asset Management Co. raised its position in shares of Lamar Advertising by 2.5% in the first quarter. Capstone Asset Management Co. now owns 9,269 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 230 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Lamar Advertising during the first quarter valued at approximately $317,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Lamar Advertising by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the real estate investment trust’s stock valued at $1,562,000 after buying an additional 400 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.
Lamar Advertising Company (NASDAQ LAMR) opened at 64.24 on Monday. Lamar Advertising Company has a 52-week low of $58.68 and a 52-week high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.37. The company had revenue of $397.10 million during the quarter, compared to analyst estimates of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. Equities analysts predict that Lamar Advertising Company will post $3.11 earnings per share for the current fiscal year.
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Several research analysts have recently commented on LAMR shares. MKM Partners reiterated a “neutral” rating and issued a $72.00 target price (down previously from $73.00) on shares of Lamar Advertising in a research report on Friday, May 5th. Zacks Investment Research lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. ValuEngine lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Loop Capital reiterated a “buy” rating and issued a $87.00 target price on shares of Lamar Advertising in a research report on Friday, June 9th. Finally, BidaskClub upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $73.40.
In other news, Director Stephen P. Mumblow sold 20,000 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $70.61, for a total value of $1,412,200.00. Following the transaction, the director now owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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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