Oakbrook Investments LLC grew its stake in Lamar Advertising Company (NASDAQ:LAMR) by 22.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,370 shares of the real estate investment trust’s stock after purchasing an additional 800 shares during the period. Oakbrook Investments LLC’s holdings in Lamar Advertising were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of LAMR. Teachers Advisors LLC grew its position in shares of Lamar Advertising by 3.8% in the first quarter. Teachers Advisors LLC now owns 77,771 shares of the real estate investment trust’s stock valued at $5,813,000 after purchasing an additional 2,827 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Lamar Advertising by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,123 shares of the real estate investment trust’s stock valued at $682,000 after purchasing an additional 534 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Lamar Advertising by 118.4% in the first quarter. Renaissance Technologies LLC now owns 111,412 shares of the real estate investment trust’s stock valued at $8,327,000 after purchasing an additional 60,400 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Lamar Advertising by 7.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 295,894 shares of the real estate investment trust’s stock valued at $22,116,000 after purchasing an additional 21,436 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Lamar Advertising in the first quarter valued at approximately $443,000. Institutional investors and hedge funds own 85.21% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. MKM Partners lowered their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday, August 9th. Citigroup Inc. reiterated a “neutral” rating and issued a $66.00 price objective (down from $69.00) on shares of Lamar Advertising in a research report on Friday, August 11th. Finally, Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $73.00.
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Shares of Lamar Advertising Company (LAMR) opened at 68.72 on Monday. The stock has a 50 day moving average price of $66.72 and a 200 day moving average price of $69.37. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09. The firm has a market capitalization of $6.74 billion, a PE ratio of 22.54 and a beta of 1.09.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS 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 firm 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 firm earned $0.84 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Lamar Advertising Company will post $3.11 earnings per share for the current fiscal year.
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.
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