NGAM Advisors L.P. increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 17.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,492 shares of the real estate investment trust’s stock after buying an additional 6,425 shares during the period. NGAM Advisors L.P.’s holdings in Lamar Advertising were worth $3,126,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Lamar Advertising by 16,176.3% in the first quarter. BlackRock Inc. now owns 7,078,578 shares of the real estate investment trust’s stock worth $529,055,000 after buying an additional 7,035,088 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Lamar Advertising by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,602,786 shares of the real estate investment trust’s stock worth $493,493,000 after buying an additional 204,052 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lamar Advertising by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 2,208,793 shares of the real estate investment trust’s stock worth $165,085,000 after buying an additional 127,561 shares during the last quarter. State Street Corp raised its stake in shares of Lamar Advertising by 2.2% in the first quarter. State Street Corp now owns 2,166,811 shares of the real estate investment trust’s stock worth $161,945,000 after buying an additional 46,863 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Lamar Advertising by 40,414.9% in the first quarter. Victory Capital Management Inc. now owns 1,326,053 shares of the real estate investment trust’s stock worth $99,109,000 after buying an additional 1,322,780 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.

Lamar Advertising Company (LAMR) opened at 65.13 on Thursday. Lamar Advertising Company has a 52-week low of $58.68 and a 52-week high of $79.09. The stock has a market cap of $6.38 billion, a P/E ratio of 22.17 and a beta of 1.12. The firm’s 50-day moving average is $71.58 and its 200-day moving average is $73.13.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.37. The business had revenue of $397.10 million for the quarter, compared to analyst estimates of $399.09 million. Lamar Advertising had a return on equity of 28.28% and a net margin of 19.75%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. Equities research analysts predict that Lamar Advertising Company will post $3.13 earnings per share for the current year.

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LAMR has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Loop Capital reissued a “buy” rating and set a $87.00 target price on shares of Lamar Advertising in a research report on Friday, June 9th. Finally, MKM Partners cut their target price on shares of Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $75.25.

In other news, Director Stephen P. Mumblow sold 20,000 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the sale, the director now owns 5,970 shares of the company’s stock, valued at $421,541.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.66% of the stock is currently owned by corporate insiders.

Lamar Advertising Company Profile

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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

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