Wright Investors Service Inc. reduced its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 46.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,975 shares of the real estate investment trust’s stock after selling 5,165 shares during the period. Wright Investors Service Inc.’s holdings in Lamar Advertising were worth $440,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in LAMR. Penserra Capital Management LLC acquired a new stake in shares of Lamar Advertising during the first quarter valued at about $169,000. 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 in the last quarter. HL Financial Services LLC purchased a new stake in shares of Lamar Advertising during the first quarter valued at approximately $217,000. Two Sigma Securities LLC purchased a new stake in shares of Lamar Advertising during the first quarter valued at approximately $220,000. Finally, Wedbush Securities Inc. bought a new position in shares of Lamar Advertising during the first quarter valued at about $226,000. 86.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lamar Advertising Company (LAMR) traded down 0.50% during mid-day trading on Friday, hitting $64.24. The stock had a trading volume of 709,638 shares. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09. The stock’s 50-day moving average is $69.93 and its 200-day moving average is $72.62.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.37. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The firm had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.
Several 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 report on Tuesday, May 9th. MKM Partners reiterated a “neutral” rating and set a $72.00 price target (down previously from $73.00) on shares of Lamar Advertising in a research report on Friday, May 5th. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Loop Capital restated a “buy” rating and set a $87.00 target price on shares of Lamar Advertising in a research report on Friday, June 9th. Finally, BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.40.
In related news, Director Stephen P. Mumblow sold 20,000 shares of Lamar Advertising stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $70.61, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.66% of the stock is currently owned by 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.
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