Mackay Shields LLC Sells 11,065 Shares of Lamar Advertising Co (NASDAQ:LAMR)

Mackay Shields LLC reduced its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 15.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,066 shares of the real estate investment trust’s stock after selling 11,065 shares during the quarter. Mackay Shields LLC owned 0.06% of Lamar Advertising worth $4,839,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LAMR. Advisor Group Inc. boosted its holdings in shares of Lamar Advertising by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 12,181 shares of the real estate investment trust’s stock valued at $983,000 after acquiring an additional 2,348 shares during the last quarter. Semmax Financial Advisors Inc. boosted its holdings in shares of Lamar Advertising by 114.1% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 22,871 shares of the real estate investment trust’s stock valued at $1,846,000 after acquiring an additional 12,190 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Lamar Advertising by 34.6% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 673 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 173 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in shares of Lamar Advertising by 77.8% during the 2nd quarter. Alberta Investment Management Corp now owns 94,600 shares of the real estate investment trust’s stock valued at $7,635,000 after acquiring an additional 41,400 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Lamar Advertising by 6.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,145,239 shares of the real estate investment trust’s stock valued at $253,853,000 after acquiring an additional 188,976 shares during the last quarter. Institutional investors and hedge funds own 79.79% of the company’s stock.

In related news, Director Stephen P. Mumblow sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $79.81, for a total transaction of $279,335.00. Following the sale, the director now owns 5,580 shares of the company’s stock, valued at $445,339.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.19% of the stock is owned by corporate insiders.

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A number of brokerages have recently issued reports on LAMR. ValuEngine downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Friday. Imperial Capital dropped their price target on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $80.75.

Shares of LAMR traded up $0.95 on Friday, reaching $81.61. The company’s stock had a trading volume of 400,700 shares, compared to its average volume of 348,078. The stock has a market capitalization of $8.27 billion, a P/E ratio of 14.84 and a beta of 0.95. The stock’s 50 day simple moving average is $81.55 and its two-hundred day simple moving average is $80.16. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.50 and a quick ratio of 0.50. Lamar Advertising Co has a 12-month low of $64.51 and a 12-month high of $84.71.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.08). The business had revenue of $457.80 million for the quarter, compared to analysts’ expectations of $452.91 million. Lamar Advertising had a net margin of 21.23% and a return on equity of 32.39%. Lamar Advertising’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. Analysts expect that Lamar Advertising Co will post 5.69 earnings per share for the current year.

About Lamar Advertising

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

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