SG Americas Securities LLC Trims Position in Lamar Advertising (LAMR)
SG Americas Securities LLC cut its stake in Lamar Advertising (NASDAQ:LAMR) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,582 shares of the real estate investment trust’s stock after selling 1,698 shares during the period. SG Americas Securities LLC’s holdings in Lamar Advertising were worth $1,825,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of LAMR. San Francisco Sentry Investment Group CA acquired a new position in Lamar Advertising in the third quarter valued at $164,000. Argent Trust Co acquired a new position in Lamar Advertising in the third quarter valued at $207,000. Alpha Cubed Investments LLC acquired a new position in Lamar Advertising in the third quarter valued at $211,000. Timber Hill LLC acquired a new position in Lamar Advertising in the third quarter valued at $227,000. Finally, Segment Wealth Management LLC acquired a new position in Lamar Advertising in the third quarter valued at $289,000. Institutional investors own 84.37% of the company’s stock.
In other news, Director Stephen P. Mumblow sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $78.33, for a total transaction of $313,320.00. Following the transaction, the director now directly owns 11,031 shares in the company, valued at $864,058.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 14.70% of the company’s stock.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm had revenue of $399.30 million for the quarter, compared to analyst estimates of $392.10 million. During the same quarter last year, the firm earned $0.87 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. research analysts predict that Lamar Advertising will post 4.84 EPS for the current year.
A number of research analysts have commented on LAMR shares. BidaskClub upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. ValuEngine lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Citigroup lowered shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price target on the stock. in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $71.75.
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About Lamar Advertising
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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