Great West Life Assurance Co. Can Buys 506 Shares of Lamar Advertising Company (LAMR)

Great West Life Assurance Co. Can increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,328 shares of the real estate investment trust’s stock after buying an additional 506 shares during the period. Great West Life Assurance Co. Can owned about 0.06% of Lamar Advertising worth $3,628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. raised its position in Lamar Advertising by 1.6% in the first quarter. First Citizens Bank & Trust Co. now owns 4,867 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 75 shares during the last quarter. ProShare Advisors LLC raised its position in Lamar Advertising by 244.0% in the first quarter. ProShare Advisors LLC now owns 102,740 shares of the real estate investment trust’s stock worth $2,207,000 after buying an additional 72,876 shares during the last quarter. Profund Advisors LLC raised its position in Lamar Advertising by 2.7% in the first quarter. Profund Advisors LLC now owns 13,713 shares of the real estate investment trust’s stock worth $1,025,000 after buying an additional 360 shares during the last quarter. BTIM Corp. raised its position in Lamar Advertising by 17.0% in the first quarter. BTIM Corp. now owns 104,822 shares of the real estate investment trust’s stock worth $7,835,000 after buying an additional 15,204 shares during the last quarter. Finally, Naples Global Advisors LLC raised its position in Lamar Advertising by 16.1% in the first quarter. Naples Global Advisors LLC now owns 7,590 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 1,050 shares during the last quarter. 86.79% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Company (LAMR) opened at 64.56 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 posted its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.31 by $0.37. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The business had revenue of $397.10 million during the quarter, compared to analyst estimates of $399.09 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Lamar Advertising Company will post $3.11 earnings per share for the current fiscal year.

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A number of research firms have recently issued reports on LAMR. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research raised Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, MKM Partners reissued a “neutral” rating and issued a $72.00 target price (down previously from $73.00) on shares of Lamar Advertising in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Lamar Advertising currently has an average rating of “Hold” and an average price target of $73.40.

In related news, Director Stephen P. Mumblow sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $70.61, for a total value of $1,412,200.00. Following the sale, the director now directly owns 5,970 shares in the company, valued at approximately $421,541.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 18.66% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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