Edgemoor Investment Advisors Inc. Sells 870 Shares of Lamar Advertising Co (LAMR)

Edgemoor Investment Advisors Inc. reduced its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 0.8% in the 1st quarter, HoldingsChannel reports. The fund owned 111,163 shares of the real estate investment trust’s stock after selling 870 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Lamar Advertising were worth $8,811,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc boosted its stake in shares of Lamar Advertising by 7.5% during the 3rd quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock worth $965,072,000 after purchasing an additional 867,169 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Lamar Advertising by 2.7% during the 4th quarter. BlackRock Inc. now owns 8,390,109 shares of the real estate investment trust’s stock worth $580,430,000 after purchasing an additional 218,645 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lamar Advertising by 0.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,084,238 shares of the real estate investment trust’s stock worth $213,367,000 after purchasing an additional 19,144 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Lamar Advertising by 6,818.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,264,394 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Lamar Advertising by 13.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,872,135 shares of the real estate investment trust’s stock worth $129,514,000 after purchasing an additional 219,504 shares during the last quarter. Hedge funds and other institutional investors own 81.88% of the company’s stock.

LAMR opened at $81.63 on Tuesday. The company has a market cap of $8.21 billion, a PE ratio of 14.84 and a beta of 1.00. Lamar Advertising Co has a 52-week low of $64.51 and a 52-week high of $83.51. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.52 and a current ratio of 0.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.43). The firm 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 company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. Equities research analysts predict that Lamar Advertising Co will post 5.6 EPS for the current fiscal year.

Several equities research analysts recently issued reports on LAMR shares. Imperial Capital reissued an “outperform” rating and issued a $88.00 target price (down from $94.00) on shares of Lamar Advertising in a research report on Wednesday, January 23rd. BidaskClub cut shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, MKM Partners raised their target price on shares of Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Lamar Advertising currently has an average rating of “Hold” and an average target price of $78.50.

In related news, Director Thomas V. Reifenheiser sold 4,000 shares of Lamar Advertising stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total value of $324,200.00. Following the completion of the sale, the director now owns 38,708 shares in the company, valued at $3,137,283.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sean E. Reilly sold 107,606 shares of Lamar Advertising stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $79.55, for a total transaction of $8,560,057.30. The disclosure for this sale can be found here. Insiders have sold 200,163 shares of company stock worth $15,835,029 in the last quarter. Insiders own 15.19% of the company’s stock.

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Lamar Advertising Company 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.

Further Reading: Terms to Better Understand Call Options

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

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