State of Alaska Department of Revenue Raises Position in Lamar Advertising Co (NASDAQ:LAMR)

State of Alaska Department of Revenue grew its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,051 shares of the real estate investment trust’s stock after purchasing an additional 5,421 shares during the period. State of Alaska Department of Revenue’s holdings in Lamar Advertising were worth $3,474,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Stevens Capital Management LP raised its stake in Lamar Advertising by 50.5% in the 1st quarter. Stevens Capital Management LP now owns 41,325 shares of the real estate investment trust’s stock worth $3,275,000 after acquiring an additional 13,859 shares during the last quarter. Rhumbline Advisers raised its stake in Lamar Advertising by 0.6% in the 1st quarter. Rhumbline Advisers now owns 248,585 shares of the real estate investment trust’s stock worth $19,703,000 after acquiring an additional 1,404 shares during the last quarter. Texas Permanent School Fund raised its stake in Lamar Advertising by 3.9% in the 1st quarter. Texas Permanent School Fund now owns 57,824 shares of the real estate investment trust’s stock worth $4,583,000 after acquiring an additional 2,145 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. raised its stake in Lamar Advertising by 19.9% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 52,945 shares of the real estate investment trust’s stock worth $4,196,000 after acquiring an additional 8,790 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Lamar Advertising by 214.0% in the 4th quarter. Deutsche Bank AG now owns 244,322 shares of the real estate investment trust’s stock worth $16,900,000 after acquiring an additional 166,514 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.

A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. BidaskClub upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Friday. Finally, ValuEngine lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Lamar Advertising presently has an average rating of “Hold” and an average price target of $78.50.

In other Lamar Advertising news, Director Thomas V. Reifenheiser sold 4,000 shares of Lamar Advertising stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith A. Istre sold 16,294 shares of Lamar Advertising 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 transaction, the chief financial officer now owns 118,991 shares of the company’s stock, valued at approximately $9,552,597.48. The disclosure for this sale can be found here. Company insiders own 15.19% of the company’s stock.

LAMR stock traded down $0.44 during midday trading on Friday, reaching $79.37. The stock had a trading volume of 196,481 shares, compared to its average volume of 237,931. The firm has a fifty day simple moving average of $80.96. The firm has a market cap of $8.09 billion, a PE ratio of 14.43 and a beta of 0.95. Lamar Advertising Co has a 52-week low of $64.51 and a 52-week high of $84.50. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.48.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.43). The company had revenue of $384.50 million for 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. As a group, research analysts forecast that Lamar Advertising Co will post 5.62 EPS for the current fiscal year.

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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