Shell Asset Management Co. held its position in shares of Lamar Advertising Company (NASDAQ:LAMR) during the second quarter, Holdings Channel reports. The institutional investor owned 12,680 shares of the real estate investment trust’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Lamar Advertising were worth $933,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in shares of Lamar Advertising during the first quarter valued at about $169,000. HL Financial Services LLC purchased a new stake in shares of Lamar Advertising during the first quarter valued at about $217,000. Creative Planning increased its stake 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 period. Two Sigma Securities LLC purchased a new stake in shares of Lamar Advertising during the first quarter valued at about $220,000. Finally, SPC Financial Inc. purchased a new stake in shares of Lamar Advertising during the second quarter valued at about $221,000. Institutional investors own 85.94% of the company’s stock.
Shares of Lamar Advertising Company (LAMR) opened at 65.13 on Thursday. The company has a 50-day moving average of $71.58 and a 200 day moving average of $73.13. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09. The firm has a market capitalization of $6.38 billion, a P/E ratio of 22.17 and a beta of 1.12.
Lamar Advertising (NASDAQ:LAMR) last released its 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 analysts’ expectations of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.28%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Equities research analysts anticipate that Lamar Advertising Company will post $3.13 earnings per share for the current year.
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Several equities research analysts recently issued reports on LAMR shares. Zacks Investment Research downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Loop Capital reiterated a “buy” rating and issued a $87.00 target price on shares of Lamar Advertising in a research note on Friday, June 9th. Finally, MKM Partners cut their target price on shares of Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $75.25.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total value of $1,412,200.00. Following the transaction, the director now directly owns 5,970 shares in the company, valued at $421,541.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 18.66% of the stock is owned by insiders.
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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