Panagora Asset Management Inc. Trims Stake in Lamar Advertising Co (NASDAQ:LAMR)

Panagora Asset Management Inc. trimmed its stake in Lamar Advertising Co (NASDAQ:LAMR) by 90.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,230 shares of the real estate investment trust’s stock after selling 68,226 shares during the period. Panagora Asset Management Inc.’s holdings in Lamar Advertising were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LAMR. Capital Advisors Inc. OK increased its stake in shares of Lamar Advertising by 311.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 215,839 shares of the real estate investment trust’s stock worth $17,420,000 after purchasing an additional 163,388 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Lamar Advertising by 271.7% in 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 purchasing an additional 137,706 shares in the last quarter. Waratah Capital Advisors Ltd. increased its stake in shares of Lamar Advertising by 79.1% in 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 purchasing an additional 129,043 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of Lamar Advertising by 30.9% in 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 purchasing an additional 121,817 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. boosted its holdings in Lamar Advertising by 36.0% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 410,046 shares of the real estate investment trust’s stock worth $32,500,000 after buying an additional 108,584 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

LAMR traded down $1.00 during trading on Friday, hitting $75.25. The stock had a trading volume of 9,639 shares, compared to its average volume of 377,171. The company has a market capitalization of $7.60 billion, a PE ratio of 13.68 and a beta of 0.95. Lamar Advertising Co has a twelve month low of $64.51 and a twelve month high of $84.50. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a 50 day simple moving average of $79.40 and a two-hundred day simple moving average of $79.54.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.42). The firm had revenue of $448.74 million during the quarter, compared to analyst estimates of $451.85 million. Lamar Advertising had a net margin of 21.39% and a return on equity of 32.10%. Lamar Advertising’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $1.02 earnings per share. On average, equities research analysts anticipate that Lamar Advertising Co will post 5.62 EPS for the current year.

A number of research firms have recently issued reports on LAMR. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $81.25.

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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