Ameritas Investment Partners Inc. cut its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,415 shares of the real estate investment trust’s stock after selling 737 shares during the period. Ameritas Investment Partners Inc.’s holdings in Lamar Advertising Company were worth $1,825,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Group One Trading L.P. purchased a new stake in shares of Lamar Advertising Company during the fourth quarter worth about $114,000. Penserra Capital Management LLC purchased a new stake in shares of Lamar Advertising Company during the first quarter worth about $169,000. Cigna Investments Inc. New purchased a new stake in shares of Lamar Advertising Company during the fourth quarter worth about $204,000. BB&T Securities LLC purchased a new stake in shares of Lamar Advertising Company during the third quarter worth about $214,000. Finally, Creative Planning increased its stake in shares of Lamar Advertising Company by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 290 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lamar Advertising Company (NASDAQ:LAMR) traded up 1.29% during mid-day trading on Friday, reaching $70.76. 366,658 shares of the company were exchanged. Lamar Advertising Company has a 12 month low of $58.68 and a 12 month high of $79.09. The stock has a market capitalization of $6.93 billion, a P/E ratio of 24.08 and a beta of 1.49. The stock has a 50 day moving average price of $72.10 and a 200-day moving average price of $71.18.
Lamar Advertising Company (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by $0.49. The firm had revenue of $346.40 million during the quarter, compared to analyst estimates of $347.06 million. Lamar Advertising Company had a net margin of 20.06% and a return on equity of 28.50%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. Analysts predict that Lamar Advertising Company will post $3.12 earnings per share for the current year.
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LAMR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Lamar Advertising Company 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 price target (down from $73.00) on shares of Lamar Advertising Company in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Lamar Advertising Company has a consensus rating of “Hold” and a consensus price target of $71.50.
In other Lamar Advertising Company news, Director John Maxwell Hamilton sold 2,000 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $76.00, for a total value of $152,000.00. Following the transaction, the director now directly owns 17,431 shares of the company’s stock, valued at approximately $1,324,756. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith A. Istre sold 25,000 shares of the business’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $77.47, for a total transaction of $1,936,750.00. Following the completion of the transaction, the chief financial officer now directly owns 169,253 shares in the company, valued at $13,112,029.91. The disclosure for this sale can be found here. Insiders sold a total of 83,000 shares of company stock worth $6,287,050 over the last three months. 18.66% of the stock is currently owned by corporate insiders.
Lamar Advertising Company 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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