American International Group Inc. increased its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 172,442 shares of the real estate investment trust’s stock after buying an additional 2,892 shares during the quarter. American International Group Inc. owned about 0.17% of Lamar Advertising worth $13,416,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Lamar Advertising during the 2nd quarter valued at approximately $137,000. Qube Research & Technologies Ltd purchased a new stake in shares of Lamar Advertising during the 2nd quarter valued at approximately $164,000. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Lamar Advertising during the 3rd quarter valued at approximately $200,000. SPC Financial Inc. purchased a new stake in shares of Lamar Advertising during the 3rd quarter valued at approximately $202,000. Finally, Anchor Capital Advisors LLC purchased a new stake in shares of Lamar Advertising during the 2nd quarter valued at approximately $242,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. ValuEngine lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Imperial Capital assumed coverage on Lamar Advertising in a research report on Thursday, September 13th. They issued an “outperform” rating and a $93.00 target price on the stock. Finally, Citigroup boosted their target price on Lamar Advertising from $68.00 to $69.00 and gave the company a “sell” rating in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $77.33.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, November 8th. The real estate investment trust reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.44). The business had revenue of $418.50 million during the quarter, compared to analyst estimates of $421.29 million. Lamar Advertising had a return on equity of 27.51% and a net margin of 18.57%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Analysts predict that Lamar Advertising Co will post 5.12 earnings per share for the current fiscal year.
In other Lamar Advertising news, CFO Keith A. Istre sold 20,791 shares of the business’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $76.64, for a total value of $1,593,422.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.64% of the company’s stock.
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Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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