Rhumbline Advisers Decreases Position in Lamar Advertising Co (LAMR)

Rhumbline Advisers cut its stake in shares of Lamar Advertising Co (NASDAQ:LAMR) by 4.7% during the 3rd quarter, Holdings Channel reports. The firm owned 188,010 shares of the real estate investment trust’s stock after selling 9,292 shares during the period. Rhumbline Advisers’ holdings in Lamar Advertising were worth $14,627,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Prudential Financial Inc. grew its holdings in shares of Lamar Advertising by 93.8% during the 3rd quarter. Prudential Financial Inc. now owns 112,569 shares of the real estate investment trust’s stock valued at $8,758,000 after purchasing an additional 54,480 shares during the last quarter. RKL Wealth Management LLC acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $1,418,000. JPMorgan Chase & Co. boosted its position in Lamar Advertising by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,082 shares of the real estate investment trust’s stock worth $14,476,000 after buying an additional 2,302 shares during the period. Strategic Wealth Advisors Group LLC acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $1,477,000. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $200,000. 82.91% of the stock is currently owned by institutional investors.

Shares of NASDAQ LAMR opened at $73.47 on Monday. The company has a market capitalization of $7.31 billion, a PE ratio of 14.55 and a beta of 1.13. Lamar Advertising Co has a 52-week low of $61.36 and a 52-week high of $80.68. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.43 and a current ratio of 1.43.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, November 8th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.44). The firm 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 firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, equities research analysts expect that Lamar Advertising Co will post 5.12 EPS for the current year.

In related 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 transaction of $1,593,422.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 15.64% of the stock is owned by insiders.

LAMR has been the topic of several recent research reports. BidaskClub upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Wells Fargo & Co boosted their price target on shares of Lamar Advertising from $74.00 to $77.00 and gave the stock a “market perform” rating in a research report on Thursday, August 9th. Finally, MKM Partners boosted their price target on shares of Lamar Advertising to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $77.33.

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

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