CarsonAllaria Wealth Management Ltd. Has $337,000 Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

CarsonAllaria Wealth Management Ltd. cut its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 11.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,818 shares of the real estate investment trust’s stock after selling 348 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Lamar Advertising were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LAMR. International Assets Investment Management LLC acquired a new stake in shares of Lamar Advertising during the fourth quarter worth $6,190,000. Cerity Partners LLC raised its position in Lamar Advertising by 64.4% during the fourth quarter. Cerity Partners LLC now owns 4,152 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 1,627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lamar Advertising by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,742 shares of the real estate investment trust’s stock valued at $1,673,000 after buying an additional 1,289 shares during the period. Greenleaf Trust raised its position in Lamar Advertising by 17.3% during the fourth quarter. Greenleaf Trust now owns 5,959 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 878 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its position in Lamar Advertising by 53.4% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 9,968 shares of the real estate investment trust’s stock valued at $1,059,000 after buying an additional 3,468 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LAMR has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen upped their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $123.25.

Lamar Advertising Stock Performance

Lamar Advertising stock traded down $0.88 during trading hours on Tuesday, hitting $118.82. The stock had a trading volume of 231,026 shares, compared to its average volume of 411,101. The company has a 50-day moving average of $117.69 and a two-hundred day moving average of $115.65. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. The company has a market cap of $12.15 billion, a PE ratio of 24.60 and a beta of 1.52. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $123.25.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.90 EPS. On average, equities research analysts anticipate that Lamar Advertising will post 7.69 EPS for the current fiscal 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.