Carillon Tower Advisers Inc. trimmed its holdings in Lamar Advertising Co (NASDAQ:LAMR) by 1.7% during the third quarter, Holdings Channel.com reports. The fund owned 155,198 shares of the real estate investment trust’s stock after selling 2,750 shares during the period. Carillon Tower Advisers Inc.’s holdings in Lamar Advertising were worth $12,715,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Lamar Advertising by 6.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,145,239 shares of the real estate investment trust’s stock valued at $253,853,000 after acquiring an additional 188,976 shares during the last quarter. Royal Bank of Canada grew its stake in Lamar Advertising by 5.7% in the 2nd quarter. Royal Bank of Canada now owns 2,343,178 shares of the real estate investment trust’s stock valued at $189,117,000 after acquiring an additional 127,319 shares during the last quarter. Invesco Ltd. grew its stake in Lamar Advertising by 159.7% in the 2nd quarter. Invesco Ltd. now owns 2,136,153 shares of the real estate investment trust’s stock valued at $172,408,000 after acquiring an additional 1,313,478 shares during the last quarter. Bank of Montreal Can grew its stake in Lamar Advertising by 365.3% in the 2nd quarter. Bank of Montreal Can now owns 876,642 shares of the real estate investment trust’s stock valued at $70,752,000 after acquiring an additional 688,251 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in Lamar Advertising by 96.0% in the 2nd quarter. APG Asset Management N.V. now owns 650,000 shares of the real estate investment trust’s stock valued at $46,067,000 after acquiring an additional 318,300 shares during the last quarter. 79.78% of the stock is currently owned by hedge funds and other institutional investors.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $79.81, for a total transaction of $279,335.00. Following the sale, the director now directly owns 5,580 shares of the company’s stock, valued at approximately $445,339.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.19% of the stock is owned by company insiders.
LAMR has been the topic of a number of research reports. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday. Imperial Capital lowered their price objective on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $80.75.
Lamar Advertising stock opened at $82.55 on Tuesday. Lamar Advertising Co has a 12-month low of $64.51 and a 12-month high of $84.71. The stock has a market capitalization of $8.19 billion, a P/E ratio of 15.01 and a beta of 0.95. The firm’s 50-day moving average is $81.61 and its two-hundred day moving average is $80.18. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.51 and a quick ratio of 0.51.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.08). Lamar Advertising had a return on equity of 32.10% and a net margin of 21.23%. The firm had revenue of $457.80 million for the quarter, compared to analyst estimates of $452.91 million. During the same period in the prior year, the business earned $0.95 earnings per share. Lamar Advertising’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts forecast that Lamar Advertising Co will post 5.63 EPS for the current year.
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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