10,399 Shares in Lamar Advertising Company (LAMR) Purchased by Crossmark Global Holdings Inc.
Crossmark Global Holdings Inc. bought a new stake in Lamar Advertising Company (NASDAQ:LAMR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,399 shares of the real estate investment trust’s stock, valued at approximately $713,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westpac Banking Corp acquired a new stake in Lamar Advertising in the 2nd quarter valued at approximately $176,000. Penserra Capital Management LLC grew its holdings in 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 valued at $182,000 after buying an additional 214 shares during the last quarter. Verity Asset Management Inc. acquired a new stake in shares of Lamar Advertising during the 2nd quarter worth approximately $204,000. Alpha Cubed Investments LLC acquired a new stake in shares of Lamar Advertising during the 3rd quarter worth approximately $211,000. Finally, SPC Financial Inc. acquired a new stake in shares of Lamar Advertising during the 2nd quarter worth approximately $221,000. 85.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lamar Advertising Company (NASDAQ LAMR) opened at $76.26 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $7,509.30, a P/E ratio of 15.29, a PEG ratio of 5.26 and a beta of 1.14. Lamar Advertising Company has a fifty-two week low of $60.70 and a fifty-two week high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.34). The company had revenue of $399.30 million during the quarter, compared to analyst estimates of $392.10 million. Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. Lamar Advertising’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. research analysts expect that Lamar Advertising Company will post 4.83 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on LAMR. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Morgan Stanley decreased their price objective on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. Citigroup Inc. reissued a “neutral” rating and set a $66.00 price objective (down previously from $69.00) on shares of Lamar Advertising in a report on Friday, August 11th. BidaskClub lowered Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, MKM Partners decreased their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $73.00.
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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