Wedbush Securities Inc. boosted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 31.9% during the second quarter, Holdings Channel reports. The fund owned 3,991 shares of the real estate investment trust’s stock after buying an additional 966 shares during the period. Wedbush Securities Inc.’s holdings in Lamar Advertising were worth $294,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Clinton Group Inc. purchased a new stake in Lamar Advertising during the first quarter worth $650,000. Capstone Asset Management Co. increased its stake in 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 worth $693,000 after buying an additional 230 shares during the last quarter. Teachers Advisors LLC increased its stake in 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 worth $5,039,000 after buying an additional 8,452 shares during the last quarter. Beacon Trust Co. increased its stake in Lamar Advertising by 5.1% in the first quarter. Beacon Trust Co. now owns 7,550 shares of the real estate investment trust’s stock worth $570,000 after buying an additional 367 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Lamar Advertising by 4.3% in the second quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the real estate investment trust’s stock worth $1,604,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.
Lamar Advertising Company (LAMR) opened at 64.24 on Friday. 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 Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by $0.37. The business had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, equities analysts predict that Lamar Advertising Company will post $3.11 earnings per share for the current fiscal year.
LAMR has been the topic of a number of research reports. Zacks Investment Research downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Loop Capital restated a “buy” rating and set a $87.00 price target on shares of Lamar Advertising in a research report on Friday, June 9th. Wells Fargo & Company downgraded Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. Finally, MKM Partners lowered their price target on Lamar Advertising from $73.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Lamar Advertising currently 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 company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the sale, the director now directly owns 5,970 shares in the company, valued at approximately $421,541.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.66% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising Company (NASDAQ:LAMR).
Receive News & Ratings for Lamar Advertising Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising Company and related companies with MarketBeat.com's FREE daily email newsletter.
