IFP Advisors Inc Sells 3,687 Shares of Lamar Advertising Company (LAMR)
IFP Advisors Inc cut its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 49.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,774 shares of the real estate investment trust’s stock after selling 3,687 shares during the period. IFP Advisors Inc’s holdings in Lamar Advertising were worth $259,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of LAMR. Westpac Banking Corp acquired a new position in Lamar Advertising during the second quarter valued at approximately $176,000. Penserra Capital Management LLC boosted its position in Lamar Advertising by 9.5% during the second quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 214 shares during the last quarter. Verity Asset Management Inc. acquired a new position in Lamar Advertising during the second quarter valued at approximately $204,000. Alpha Cubed Investments LLC acquired a new position in Lamar Advertising during the third quarter valued at approximately $211,000. Finally, SPC Financial Inc. acquired a new position in Lamar Advertising during the second quarter valued at approximately $221,000. 85.65% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Company (NASDAQ:LAMR) opened at $77.21 on Wednesday. The firm has a market capitalization of $7,343.65, a P/E ratio of 15.01, a PEG ratio of 5.16 and a beta of 1.14. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.48 and a current ratio of 1.48. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.34). The firm had revenue of $399.30 million for the quarter, compared to the consensus estimate of $392.10 million. Lamar Advertising had a return on equity of 29.20% and a net margin of 20.33%. Lamar Advertising’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. research analysts expect that Lamar Advertising Company will post 4.84 EPS for the current year.
Several research analysts recently commented on LAMR shares. BidaskClub cut Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. MKM Partners dropped their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $66.00 price objective (down previously from $69.00) on shares of Lamar Advertising in a research note on Friday, August 11th. One research 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 has a consensus rating of “Hold” and a consensus price target of $73.00.
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Lamar Advertising 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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