Pzena Investment Management LLC decreased its position in Lamar Advertising (NASDAQ:LAMR) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,581,874 shares of the real estate investment trust’s stock after selling 8,562 shares during the quarter. Pzena Investment Management LLC owned approximately 1.61% of Lamar Advertising worth $117,438,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in LAMR. Advisory Services Network LLC grew its stake in shares of Lamar Advertising by 209.3% in the fourth quarter. Advisory Services Network LLC now owns 2,038 shares of the real estate investment trust’s stock worth $151,000 after acquiring an additional 1,379 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Lamar Advertising in the third quarter worth $164,000. Argent Trust Co acquired a new stake in shares of Lamar Advertising in the third quarter worth $207,000. TradeLink Capital LLC acquired a new stake in shares of Lamar Advertising in the fourth quarter worth $208,000. Finally, Alpha Cubed Investments LLC acquired a new stake in shares of Lamar Advertising in the third quarter worth $211,000. 84.89% of the stock is currently owned by institutional investors.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of Lamar Advertising stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total transaction of $313,320.00. Following the sale, the director now owns 11,031 shares in the company, valued at $864,058.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 14.70% of the company’s stock.
Shares of Lamar Advertising (NASDAQ:LAMR) opened at $69.32 on Wednesday. The stock has a market cap of $6,897.06, a price-to-earnings ratio of 22.01, a PEG ratio of 4.54 and a beta of 1.02. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.55 and a quick ratio of 1.55. Lamar Advertising has a 52 week low of $62.45 and a 52 week high of $79.17.
Several brokerages have recently issued reports on LAMR. Morgan Stanley raised their price objective on shares of Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, Citigroup downgraded shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price objective on the stock. in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $72.25.
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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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