Bank of The West cut its position in Lamar Advertising (NASDAQ:LAMR) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,400 shares of the real estate investment trust’s stock after selling 800 shares during the period. Bank of The West’s holdings in Lamar Advertising were worth $252,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of LAMR. San Francisco Sentry Investment Group CA purchased a new position in Lamar Advertising in the third quarter worth about $164,000. Argent Trust Co purchased a new position in Lamar Advertising in the third quarter worth about $207,000. TradeLink Capital LLC purchased a new position in Lamar Advertising in the fourth quarter worth about $208,000. Alpha Cubed Investments LLC purchased a new position in Lamar Advertising in the third quarter worth about $211,000. Finally, HL Financial Services LLC purchased a new position in Lamar Advertising in the fourth quarter worth about $212,000. 84.37% of the stock is owned by institutional investors and hedge funds.
Lamar Advertising (NASDAQ:LAMR) opened at $66.61 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23. Lamar Advertising has a twelve month low of $62.45 and a twelve month high of $79.17. The firm has a market cap of $6,686.42, a P/E ratio of 21.15, a PEG ratio of 4.41 and a beta of 1.02.
In other news, Director Stephen P. Mumblow sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the transaction, the director now directly owns 11,031 shares of the company’s stock, valued at $864,058.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.70% of the stock is owned by insiders.
Several brokerages have issued reports on LAMR. ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Morgan Stanley lifted their target price on shares of Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. BidaskClub cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Citigroup cut shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price objective for the company. in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $72.25.
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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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