Morningstar Investment Services LLC Decreases Stock Position in Lamar Advertising Co (NASDAQ:LAMR)

Morningstar Investment Services LLC decreased its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 477,858 shares of the real estate investment trust’s stock after selling 14,676 shares during the period. Morningstar Investment Services LLC’s holdings in Lamar Advertising were worth $31,787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Lamar Advertising by 5.5% during the first quarter. FMR LLC now owns 293,906 shares of the real estate investment trust’s stock valued at $23,295,000 after buying an additional 15,311 shares during the last quarter. Geode Capital Management LLC grew its stake in Lamar Advertising by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 1,071,858 shares of the real estate investment trust’s stock worth $95,674,000 after buying an additional 62,964 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Lamar Advertising in the fourth quarter valued at about $9,149,000. Kennedy Capital Management Inc. boosted its holdings in Lamar Advertising by 7.4% in the fourth quarter. Kennedy Capital Management Inc. now owns 56,121 shares of the real estate investment trust’s stock worth $5,009,000 after acquiring an additional 3,890 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Lamar Advertising during the fourth quarter valued at about $611,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of LAMR stock traded down $0.63 on Friday, reaching $65.73. 626,782 shares of the company were exchanged, compared to its average volume of 612,531. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 18.31 and a beta of 1.37. Lamar Advertising Co has a 1 year low of $30.89 and a 1 year high of $96.82. The business has a 50-day moving average price of $67.00 and a 200 day moving average price of $69.52. The company has a debt-to-equity ratio of 3.91, a quick ratio of 1.46 and a current ratio of 1.46.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Lamar Advertising had a return on equity of 31.25% and a net margin of 20.35%. The business had revenue of $406.57 million for the quarter, compared to the consensus estimate of $396.04 million. During the same quarter last year, the business posted $0.51 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Lamar Advertising Co will post 4.71 earnings per share for the current year.

Several research firms have recently commented on LAMR. JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $74.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Imperial Capital decreased their price objective on shares of Lamar Advertising from $93.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, April 3rd. Wolfe Research raised shares of Lamar Advertising from an “underperform” rating to a “peer perform” rating and set a $73.00 target price for the company in a report on Monday, July 27th. Morgan Stanley increased their price target on Lamar Advertising from $52.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. Finally, BidaskClub upgraded Lamar Advertising from a “strong sell” rating to a “sell” rating in a research note on Friday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $67.17.

In other Lamar Advertising news, Director John E. Koerner III purchased 17,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $66.32 per share, for a total transaction of $1,127,440.00. Company insiders own 15.02% of the company’s stock.

About Lamar Advertising

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

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