Lamar Advertising Company $LAMR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,216,197 shares of the real estate investment trust’s stock after selling 9,492 shares during the period. JPMorgan Chase & Co. owned 1.19% of Lamar Advertising worth $147,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Lamar Advertising by 27.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock valued at $284,577,000 after acquiring an additional 510,025 shares during the last quarter. Hamlin Capital Management LLC raised its stake in Lamar Advertising by 2.1% during the second quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock worth $162,431,000 after purchasing an additional 26,893 shares during the period. Northern Trust Corp boosted its holdings in Lamar Advertising by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock valued at $145,967,000 after purchasing an additional 4,495 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lamar Advertising by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock valued at $126,258,000 after buying an additional 7,426 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Lamar Advertising by 4.3% during the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock worth $76,698,000 after buying an additional 27,823 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 0.1%

Shares of NASDAQ LAMR opened at $132.42 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The stock has a market capitalization of $13.41 billion, a PE ratio of 30.80 and a beta of 1.36. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $135.91. The stock has a fifty day simple moving average of $122.91 and a 200-day simple moving average of $122.64.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $585.54 million during the quarter, compared to analysts’ expectations of $584.00 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. On average, equities analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Analyst Ratings Changes

LAMR has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Citigroup raised their price objective on Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lamar Advertising in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $131.75.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.