Lamar Advertising Company (LAMR) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in Lamar Advertising Company (NASDAQ:LAMR) by 118.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 111,412 shares of the real estate investment trust’s stock after buying an additional 60,400 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Lamar Advertising worth $8,327,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Lamar Advertising by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,602,786 shares of the real estate investment trust’s stock worth $493,493,000 after buying an additional 204,052 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 worth $165,085,000 after buying an additional 127,561 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of 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 worth $99,109,000 after buying an additional 1,322,780 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of 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 worth $95,603,000 after buying an additional 154,570 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Lamar Advertising by 0.5% in the first quarter. Wells Fargo & Company MN now owns 1,238,391 shares of the real estate investment trust’s stock worth $92,558,000 after buying an additional 6,141 shares during the last quarter. 86.79% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Company (NASDAQ LAMR) traded down 0.50% on Friday, reaching $64.24. The company’s stock had a trading volume of 709,638 shares. 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 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $399.09 million. During the same quarter in the prior year, the company earned $0.84 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Analysts expect that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.

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LAMR has been the subject of a number of recent analyst reports. Zacks Investment Research cut Lamar Advertising from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Loop Capital reaffirmed a “buy” rating and set a $87.00 price target on shares of Lamar Advertising in a report on Friday, June 9th. Wells Fargo & Company cut Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Finally, BidaskClub lowered Lamar Advertising from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $73.40.

In related 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 sale, the director now owns 5,970 shares in the company, valued at approximately $421,541.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.66% of the company’s stock.

Lamar Advertising Company Profile

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.

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

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