Teachers Advisors LLC increased its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 3.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 77,771 shares of the real estate investment trust’s stock after buying an additional 2,827 shares during the period. Teachers Advisors LLC owned 0.08% of Lamar Advertising worth $5,813,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in Lamar Advertising by 40,414.9% in the first quarter. Victory Capital Management Inc. now owns 1,326,053 shares of the real estate investment trust’s stock valued at $99,109,000 after buying an additional 1,322,780 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Lamar Advertising during the first quarter valued at approximately $84,308,000. OppenheimerFunds Inc. boosted its stake in Lamar Advertising by 13.7% in the first quarter. OppenheimerFunds Inc. now owns 1,279,133 shares of the real estate investment trust’s stock valued at $95,603,000 after buying an additional 154,570 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Lamar Advertising by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 2,208,793 shares of the real estate investment trust’s stock valued at $165,085,000 after buying an additional 127,561 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Lamar Advertising by 26.2% in the first quarter. Ameriprise Financial Inc. now owns 357,065 shares of the real estate investment trust’s stock valued at $26,687,000 after buying an additional 74,020 shares in the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Company (NASDAQ:LAMR) opened at 65.13 on Friday. Lamar Advertising Company has a 12-month low of $58.68 and a 12-month high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by $0.37. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The business had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. During the same period last year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts predict that Lamar Advertising Company will post $3.12 earnings per share for the current fiscal year.
Several equities research analysts recently commented on LAMR shares. Zacks Investment Research cut Lamar Advertising from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. MKM Partners reissued a “neutral” rating and set a $72.00 target price (down previously from $73.00) on shares of Lamar Advertising in a research note on Friday, May 5th. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Loop Capital reissued a “buy” rating and set a $87.00 target price on shares of Lamar Advertising in a research note on Friday, June 9th. Finally, BidaskClub cut Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $73.40.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 20,000 shares of the company’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 completion of the transaction, the director now directly owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 18.66% of the company’s stock.
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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