Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Lamar Advertising Co (NASDAQ:LAMR) by 15.1% in the first quarter, Holdings Channel reports. The institutional investor owned 4,912 shares of the real estate investment trust’s stock after selling 877 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lamar Advertising were worth $389,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of LAMR. Oregon Public Employees Retirement Fund raised its position in shares of Lamar Advertising by 6,818.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,264,394 shares during the last quarter. Vanguard Group Inc raised its position in shares of Lamar Advertising by 7.5% in the third quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock valued at $965,072,000 after buying an additional 867,169 shares during the last quarter. Norges Bank acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $45,636,000. Rothschild & Co. Asset Management US Inc. acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $20,855,000. Finally, Millennium Management LLC increased its position in Lamar Advertising by 183.4% during the fourth quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock worth $25,244,000 after purchasing an additional 236,151 shares during the last quarter. 82.17% of the stock is owned by institutional investors and hedge funds.
LAMR traded up $0.60 during trading on Tuesday, hitting $80.72. 570 shares of the company’s stock were exchanged, compared to its average volume of 368,894. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.48. Lamar Advertising Co has a 1 year low of $64.51 and a 1 year high of $83.51. The company has a market cap of $8.02 billion, a P/E ratio of 14.62 and a beta of 1.00.
In other Lamar Advertising news, CEO Sean E. Reilly sold 107,606 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $79.55, for a total transaction of $8,560,057.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith A. Istre sold 22,263 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $76.84, for a total transaction of $1,710,688.92. Following the sale, the chief financial officer now owns 135,185 shares of the company’s stock, valued at $10,387,615.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,869 shares of company stock valued at $14,202,746. 15.19% of the stock is owned by insiders.
Several equities analysts recently commented on the stock. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. BidaskClub lowered shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Zacks Investment Research lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Imperial Capital reaffirmed an “outperform” rating and set a $88.00 price target (down previously from $94.00) on shares of Lamar Advertising in a research report on Wednesday, January 23rd. Finally, MKM Partners upped their price target on shares of Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $78.50.
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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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