Keybank National Association OH Trims Holdings in Lamar Advertising Co (NASDAQ:LAMR)

Keybank National Association OH reduced its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,371 shares of the real estate investment trust’s stock after selling 975 shares during the quarter. Keybank National Association OH’s holdings in Lamar Advertising were worth $595,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stevens Capital Management LP lifted its stake in Lamar Advertising by 50.5% during the first quarter. Stevens Capital Management LP now owns 41,325 shares of the real estate investment trust’s stock worth $3,275,000 after purchasing an additional 13,859 shares during the last quarter. Rhumbline Advisers lifted its stake in Lamar Advertising by 0.6% during the first quarter. Rhumbline Advisers now owns 248,585 shares of the real estate investment trust’s stock worth $19,703,000 after purchasing an additional 1,404 shares during the last quarter. Texas Permanent School Fund lifted its stake in Lamar Advertising by 3.9% during the first quarter. Texas Permanent School Fund now owns 57,824 shares of the real estate investment trust’s stock worth $4,583,000 after purchasing an additional 2,145 shares during the last quarter. Brasada Capital Management LP lifted its stake in Lamar Advertising by 1,243.7% during the first quarter. Brasada Capital Management LP now owns 20,760 shares of the real estate investment trust’s stock worth $1,645,000 after purchasing an additional 19,215 shares during the last quarter. Finally, Dearborn Partners LLC bought a new position in Lamar Advertising during the second quarter worth $239,000. Institutional investors own 80.96% of the company’s stock.

LAMR stock opened at $75.69 on Wednesday. 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 market capitalization of $7.57 billion, a price-to-earnings ratio of 13.76 and a beta of 0.95. Lamar Advertising Co has a 1 year low of $64.51 and a 1 year high of $84.50. The stock’s fifty day moving average is $79.63 and its two-hundred day moving average is $79.52.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.42). The company had revenue of $448.74 million during the quarter, compared to the consensus estimate of $451.85 million. Lamar Advertising had a net margin of 21.39% and a return on equity of 32.10%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. As a group, analysts predict that Lamar Advertising Co will post 5.62 EPS for the current fiscal year.

Several equities analysts recently issued reports on LAMR shares. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, BidaskClub upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price 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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