Segment Wealth Management LLC boosted its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,540 shares of the real estate investment trust’s stock after purchasing an additional 420 shares during the period. Segment Wealth Management LLC’s holdings in Lamar Advertising were worth $447,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Lamar Advertising during the 4th quarter worth about $45,636,000. Deutsche Bank AG boosted its stake in shares of Lamar Advertising by 214.0% during the 4th quarter. Deutsche Bank AG now owns 244,322 shares of the real estate investment trust’s stock worth $16,900,000 after buying an additional 166,514 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Lamar Advertising by 271.7% during the 1st quarter. Bank of Montreal Can now owns 188,391 shares of the real estate investment trust’s stock worth $14,931,000 after buying an additional 137,706 shares during the last quarter. Waratah Capital Advisors Ltd. boosted its stake in shares of Lamar Advertising by 79.1% during the 2nd quarter. Waratah Capital Advisors Ltd. now owns 292,096 shares of the real estate investment trust’s stock worth $23,575,000 after buying an additional 129,043 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in shares of Lamar Advertising by 30.9% during the 1st quarter. Federated Investors Inc. PA now owns 515,898 shares of the real estate investment trust’s stock worth $40,890,000 after buying an additional 121,817 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.
NASDAQ:LAMR traded down $0.07 during mid-day trading on Friday, hitting $79.16. The stock had a trading volume of 224,027 shares, compared to its average volume of 300,398. Lamar Advertising Co has a twelve month low of $64.51 and a twelve month high of $84.50. The firm has a market cap of $7.92 billion, a PE ratio of 14.39 and a beta of 0.95. The stock has a 50 day simple moving average of $80.65. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.52 and a current ratio of 0.52.
LAMR has been the subject of a number of recent research reports. BidaskClub upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Lamar Advertising has a consensus rating of “Hold” and an average target price of $78.80.
In related news, CFO Keith A. Istre sold 16,294 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $80.28, for a total value of $1,308,082.32. Following the completion of the sale, the chief financial officer now directly owns 118,991 shares in the company, valued at approximately $9,552,597.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas V. Reifenheiser sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total transaction of $324,200.00. Following the completion of the sale, the director now owns 38,708 shares of the company’s stock, valued at $3,137,283.40. The disclosure for this sale can be found here. Company insiders own 15.19% of the company’s stock.
Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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