California Public Employees Retirement System grew its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 241,166 shares of the real estate investment trust’s stock after purchasing an additional 24,966 shares during the quarter. California Public Employees Retirement System owned about 0.24% of Lamar Advertising worth $19,759,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. First Interstate Bank bought a new position in Lamar Advertising during the 2nd quarter worth approximately $27,000. CENTRAL TRUST Co bought a new position in Lamar Advertising during the 3rd quarter worth approximately $28,000. Arcadia Investment Management Corp MI bought a new position in Lamar Advertising during the 2nd quarter worth approximately $32,000. Kistler Tiffany Companies LLC raised its holdings in Lamar Advertising by 55.6% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 400 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 143 shares during the last quarter. Finally, Usca Ria LLC bought a new position in Lamar Advertising during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 79.79% of the company’s stock.
In other news, Director Stephen P. Mumblow sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $79.81, for a total transaction of $279,335.00. Following the completion of the sale, the director now owns 5,580 shares of the company’s stock, valued at approximately $445,339.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.19% of the company’s stock.
Shares of LAMR stock opened at $81.61 on Friday. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 14.84 and a beta of 0.95. Lamar Advertising Co has a 52 week low of $64.51 and a 52 week high of $84.71. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.33. The firm has a 50 day moving average of $81.55 and a 200-day moving average of $80.16.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.08). The company had revenue of $457.80 million for the quarter, compared to analyst estimates of $452.91 million. Lamar Advertising had a return on equity of 32.39% and a net margin of 21.23%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Analysts anticipate that Lamar Advertising Co will post 5.69 earnings per share for the current year.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Friday. Imperial Capital reduced their price objective on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $80.75.
Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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