Janney Montgomery Scott LLC increased its stake in Lamar Advertising Company (REIT) (NASDAQ:LAMR) by 11.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,157 shares of the real estate investment trust’s stock after purchasing an additional 2,783 shares during the period. Janney Montgomery Scott LLC’s holdings in Lamar Advertising were worth $1,731,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in LAMR. Global Retirement Partners LLC raised its position in Lamar Advertising by 4.1% in the third quarter. Global Retirement Partners LLC now owns 3,589 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 142 shares in the last quarter. NovaPoint Capital LLC raised its stake in Lamar Advertising by 4.6% during the 2nd quarter. NovaPoint Capital LLC now owns 4,381 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 193 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Lamar Advertising by 52.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 591 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 204 shares in the last quarter. Cornerstone Advisors Inc. grew its stake in Lamar Advertising by 114.2% in the second quarter. Cornerstone Advisors Inc. now owns 392 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 209 shares in the last quarter. Finally, Naples Global Advisors LLC raised its position in Lamar Advertising by 2.4% during the third quarter. Naples Global Advisors LLC now owns 9,760 shares of the real estate investment trust’s stock valued at $646,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 77.42% of the company’s stock.
Shares of LAMR opened at $76.23 on Friday. The company’s 50-day moving average is $69.93 and its 200-day moving average is $67.60. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $7.69 billion, a PE ratio of 32.44 and a beta of 1.32. Lamar Advertising Company has a fifty-two week low of $30.89 and a fifty-two week high of $96.82.
In other news, CFO Jay Lecoryelle Johnson sold 3,011 shares of Lamar Advertising stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $73.51, for a total transaction of $221,338.61. Following the transaction, the chief financial officer now owns 11,821 shares in the company, valued at $868,961.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.02% of the stock is owned by corporate insiders.
Several brokerages recently commented on LAMR. MKM Partners lifted their target price on shares of Lamar Advertising from $67.00 to $80.00 in a report on Wednesday, November 11th. Wolfe Research raised shares of Lamar Advertising from an “underperform” rating to a “peer perform” rating and set a $73.00 price objective for the company in a report on Monday, July 27th. Morgan Stanley upgraded shares of Lamar Advertising from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $77.00 to $81.00 in a research report on Monday, November 2nd. ValuEngine raised Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Monday, November 2nd. Finally, BidaskClub upgraded shares of Lamar Advertising from a “strong sell” rating to a “sell” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Lamar Advertising presently has an average rating of “Hold” and a consensus price target of $72.33.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 385,000 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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