Lamar Advertising Company $LAMR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 0.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,216,197 shares of the real estate investment trust’s stock after selling 9,492 shares during the period. JPMorgan Chase & Co.’s holdings in Lamar Advertising were worth $147,598,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LAMR. Sumitomo Mitsui Trust Group Inc. raised its holdings in Lamar Advertising by 0.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,106 shares of the real estate investment trust’s stock valued at $11,785,000 after acquiring an additional 733 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Lamar Advertising by 14.6% in the 1st quarter. Focus Partners Wealth now owns 21,739 shares of the real estate investment trust’s stock valued at $2,473,000 after purchasing an additional 2,768 shares in the last quarter. Millennium Management LLC lifted its position in shares of Lamar Advertising by 158.6% during the 1st quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after purchasing an additional 188,213 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Lamar Advertising by 5.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,357 shares of the real estate investment trust’s stock worth $2,349,000 after purchasing an additional 944 shares during the last quarter. Finally, Meixler Investment Management Ltd. grew its stake in shares of Lamar Advertising by 47.0% during the second quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the real estate investment trust’s stock worth $1,171,000 after purchasing an additional 3,086 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the topic of a number of analyst reports. Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Finally, Citigroup boosted their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $131.75.

Lamar Advertising Stock Down 0.1%

Shares of NASDAQ LAMR opened at $132.42 on Thursday. The business has a 50-day moving average price of $122.91 and a 200 day moving average price of $122.64. The stock has a market cap of $13.41 billion, a PE ratio of 30.80 and a beta of 1.36. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $135.91.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. The company had revenue of $585.54 million for the quarter, compared to analyst estimates of $584.00 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Equities research analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.