The Manufacturers Life Insurance Company Sells 4,133 Shares of Lamar Advertising (NASDAQ:LAMR)

The Manufacturers Life Insurance Company lowered its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,793 shares of the real estate investment trust's stock after selling 4,133 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Lamar Advertising worth $10,928,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its holdings in Lamar Advertising by 9.5% during the 3rd quarter. Independent Advisor Alliance now owns 2,321 shares of the real estate investment trust's stock worth $310,000 after acquiring an additional 202 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Lamar Advertising by 148.9% during the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust's stock valued at $58,058,000 after buying an additional 259,979 shares in the last quarter. Capital Investment Counsel LLC lifted its position in Lamar Advertising by 2.0% in the 3rd quarter. Capital Investment Counsel LLC now owns 58,038 shares of the real estate investment trust's stock worth $7,754,000 after buying an additional 1,125 shares in the last quarter. Algert Global LLC increased its holdings in Lamar Advertising by 0.4% in the third quarter. Algert Global LLC now owns 71,910 shares of the real estate investment trust's stock worth $9,607,000 after buying an additional 320 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Lamar Advertising by 71.0% during the 3rd quarter. Cerity Partners LLC now owns 22,229 shares of the real estate investment trust's stock worth $2,970,000 after acquiring an additional 9,232 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Trading Down 0.3 %

Shares of LAMR stock traded down $0.38 during trading hours on Tuesday, hitting $133.64. 404,909 shares of the company were exchanged, compared to its average volume of 518,491. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $13.68 billion, a P/E ratio of 26.73 and a beta of 1.50. The company has a 50 day simple moving average of $132.59 and a two-hundred day simple moving average of $124.40. Lamar Advertising has a fifty-two week low of $100.15 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to analysts' expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 EPS. Equities analysts anticipate that Lamar Advertising will post 7.52 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LAMR shares. Morgan Stanley raised their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. TD Cowen increased their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company dropped their target price on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, StockNews.com lowered shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $132.40.

Lamar Advertising 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.