Daiwa Securities Group Inc. Sells 73,162 Shares of Lamar Advertising Co (NASDAQ:LAMR)

Daiwa Securities Group Inc. cut its stake in Lamar Advertising Co (NASDAQ:LAMR) by 4.9% during the second quarter, HoldingsChannel reports. The firm owned 1,426,018 shares of the real estate investment trust’s stock after selling 73,162 shares during the period. Daiwa Securities Group Inc.’s holdings in Lamar Advertising were worth $115,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Lamar Advertising during the second quarter valued at about $32,000. Waratah Capital Advisors Ltd. lifted its position in shares of Lamar Advertising by 79.1% during the second quarter. Waratah Capital Advisors Ltd. now owns 292,096 shares of the real estate investment trust’s stock valued at $23,575,000 after buying an additional 129,043 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Lamar Advertising by 14.4% during the second quarter. State of Alaska Department of Revenue now owns 43,051 shares of the real estate investment trust’s stock valued at $3,474,000 after buying an additional 5,421 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Lamar Advertising by 0.9% during the second quarter. AE Wealth Management LLC now owns 21,158 shares of the real estate investment trust’s stock valued at $1,708,000 after buying an additional 181 shares during the last quarter. Finally, FDx Advisors Inc. raised its position in shares of Lamar Advertising by 5.7% in the 2nd quarter. FDx Advisors Inc. now owns 18,736 shares of the real estate investment trust’s stock valued at $1,512,000 after purchasing an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.

In related news, CFO Keith A. Istre sold 16,294 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 118,991 shares in the company, valued at approximately $9,552,597.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas V. Reifenheiser sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total transaction of $324,200.00. Following the completion of the transaction, the director now owns 38,708 shares in the company, valued at approximately $3,137,283.40. The disclosure for this sale can be found here. Company insiders own 15.19% of the company’s stock.

Shares of Lamar Advertising stock opened at $79.37 on Friday. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 14.43 and a beta of 0.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.48. The firm has a 50 day moving average of $80.96. Lamar Advertising Co has a 52 week low of $64.51 and a 52 week high of $84.50.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.43). The company had revenue of $384.50 million during the quarter, compared to analysts’ expectations of $384.84 million. Lamar Advertising had a net margin of 20.68% and a return on equity of 30.95%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, analysts anticipate that Lamar Advertising Co will post 5.62 EPS for the current year.

Several brokerages recently commented on LAMR. BidaskClub raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $78.50.

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

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