Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 37.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,733 shares of the real estate investment trust’s stock after purchasing an additional 1,281 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lamar Advertising were worth $351,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. IFG Advisory LLC bought a new stake in Lamar Advertising during the 4th quarter valued at approximately $230,000. San Francisco Sentry Investment Group CA bought a new stake in Lamar Advertising during the 3rd quarter valued at approximately $164,000. Argent Trust Co bought a new stake in Lamar Advertising during the 3rd quarter valued at approximately $207,000. Alpha Cubed Investments LLC bought a new stake in Lamar Advertising during the 3rd quarter valued at approximately $211,000. Finally, Timber Hill LLC bought a new stake in Lamar Advertising during the 3rd quarter valued at approximately $227,000. 84.41% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on LAMR. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Citigroup downgraded Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price on the stock. in a research note on Wednesday, December 20th. Zacks Investment Research downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley lifted their target price on Lamar Advertising from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Lamar Advertising currently has an average rating of “Hold” and an average price target of $72.25.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the transaction, the director now owns 11,031 shares in the company, valued at approximately $864,058.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.70% of the company’s stock.
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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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