Penserra Capital Management LLC purchased a new stake in shares of Lamar Advertising Company (NASDAQ:LAMR) during the first quarter, Holdings Channel reports. The fund purchased 2,264 shares of the real estate investment trust’s stock, valued at approximately $169,000.
Several other hedge funds have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. purchased a new stake in Lamar Advertising Company during the first quarter valued at $84,308,000. Janus Capital Management LLC boosted its stake in Lamar Advertising Company by 13.1% in the fourth quarter. Janus Capital Management LLC now owns 6,742,747 shares of the real estate investment trust’s stock valued at $453,383,000 after buying an additional 781,983 shares during the period. Capital Research Global Investors boosted its stake in Lamar Advertising Company by 9.2% in the third quarter. Capital Research Global Investors now owns 8,878,900 shares of the real estate investment trust’s stock valued at $579,881,000 after buying an additional 748,900 shares during the period. Norges Bank purchased a new stake in Lamar Advertising Company during the fourth quarter valued at $46,223,000. Finally, Scout Investments Inc. purchased a new stake in Lamar Advertising Company during the third quarter valued at $41,442,000. 83.75% of the stock is owned by institutional investors and hedge funds.
Shares of Lamar Advertising Company (NASDAQ:LAMR) traded up 1.29% during trading on Friday, hitting $70.76. 366,658 shares of the stock traded hands. Lamar Advertising Company has a 52-week low of $58.68 and a 52-week high of $79.09. The firm has a market cap of $6.93 billion, a PE ratio of 24.08 and a beta of 1.49. The company’s 50 day moving average is $72.10 and its 200 day moving average is $71.18.
Lamar Advertising Company (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by $0.49. The firm had revenue of $346.40 million for the quarter, compared to analysts’ expectations of $347.06 million. Lamar Advertising Company had a return on equity of 28.50% and a net margin of 20.06%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. On average, equities research analysts predict that Lamar Advertising Company will post $3.12 EPS for the current year.
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Several analysts have recently weighed in on LAMR shares. Zacks Investment Research cut shares of Lamar Advertising Company from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. MKM Partners reissued a “neutral” rating and issued a $72.00 price target (down previously from $73.00) on shares of Lamar Advertising Company in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Lamar Advertising Company presently has an average rating of “Hold” and an average price target of $71.50.
In related news, Director Anna Reilly sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $74.83, for a total value of $3,741,500.00. Following the completion of the sale, the director now directly owns 141,859 shares in the company, valued at $10,615,308.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Keith A. Istre sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 169,253 shares of the company’s stock, valued at $13,112,029.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,000 shares of company stock valued at $6,287,050. Insiders own 18.66% of the company’s stock.
About Lamar Advertising Company
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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