Schwab Charles Investment Management Inc. Raises Holdings in Lamar Advertising (LAMR)

Schwab Charles Investment Management Inc. raised its stake in Lamar Advertising (NASDAQ:LAMR) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 365,885 shares of the real estate investment trust’s stock after acquiring an additional 19,762 shares during the period. Schwab Charles Investment Management Inc. owned 0.37% of Lamar Advertising worth $27,164,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. OLD Second National Bank of Aurora acquired a new position in Lamar Advertising in the fourth quarter valued at approximately $1,107,000. Solaris Asset Management LLC boosted its stake in Lamar Advertising by 12.5% in the fourth quarter. Solaris Asset Management LLC now owns 6,610 shares of the real estate investment trust’s stock valued at $491,000 after acquiring an additional 735 shares during the period. Leith Wheeler Investment Counsel Ltd. boosted its stake in Lamar Advertising by 5.4% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 29,105 shares of the real estate investment trust’s stock valued at $2,161,000 after acquiring an additional 1,490 shares during the period. Aurora Investment Counsel acquired a new position in Lamar Advertising in the fourth quarter valued at approximately $2,733,000. Finally, California Public Employees Retirement System boosted its stake in Lamar Advertising by 8.2% in the third quarter. California Public Employees Retirement System now owns 208,118 shares of the real estate investment trust’s stock valued at $14,262,000 after acquiring an additional 15,818 shares during the period. Institutional investors own 84.41% of the company’s stock.

Lamar Advertising (NASDAQ LAMR) opened at $68.03 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $6,610.63, a P/E ratio of 21.60, a PEG ratio of 4.36 and a beta of 1.02. Lamar Advertising has a 52-week low of $62.45 and a 52-week high of $79.17.

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Lamar Advertising from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. ValuEngine downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. BidaskClub downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Citigroup downgraded Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price for the company. in a research note on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Lamar Advertising currently has a consensus rating of “Hold” and an average target price of $72.25.

In other news, Director Stephen P. Mumblow sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the transaction, the director now directly owns 11,031 shares in the company, valued at $864,058.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 14.70% of the company’s stock.

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Lamar Advertising Company Profile

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.

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

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