Brasada Capital Management LP trimmed its position in Lamar Advertising Co (NASDAQ:LAMR) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,926 shares of the real estate investment trust’s stock after selling 237 shares during the quarter. Brasada Capital Management LP’s holdings in Lamar Advertising were worth $2,206,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in shares of 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 purchasing an additional 188,976 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Lamar Advertising by 5.7% during 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 purchasing an additional 127,319 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Lamar Advertising by 159.7% during 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 purchasing an additional 1,313,478 shares in the last quarter. Bank of Montreal Can raised its position 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 buying an additional 688,251 shares during the last quarter. Finally, APG Asset Management N.V. raised its position 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 buying an additional 318,300 shares during the last quarter. Institutional investors own 79.79% of the company’s stock.
NASDAQ:LAMR opened at $81.61 on Friday. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 14.84 and a beta of 0.95. Lamar Advertising Co has a twelve month low of $64.51 and a twelve month high of $84.71. The stock’s 50 day moving average price is $81.55 and its two-hundred day moving average price is $80.16. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.33.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.08). Lamar Advertising had a return on equity of 32.39% and a net margin of 21.23%. The company had revenue of $457.80 million for the quarter, compared to analyst estimates of $452.91 million. During the same period last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Lamar Advertising Co will post 5.69 earnings per share for the current year.
In related news, Director Stephen P. Mumblow sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 5,580 shares in the company, valued at approximately $445,339.80. The sale was disclosed in a filing with the SEC, which is available through this link. 15.19% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on the company. ValuEngine lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Friday. Imperial Capital dropped their target price on Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. They noted that the move was a valuation call. Finally, BidaskClub lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $80.75.
About Lamar Advertising
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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