Oppenheimer Asset Management Inc. trimmed its stake in Lamar Advertising Co (NASDAQ:LAMR) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,164 shares of the real estate investment trust’s stock after selling 389 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lamar Advertising were worth $426,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kepos Capital LP bought a new position in Lamar Advertising during the 3rd quarter valued at about $1,901,000. Gilman Hill Asset Management LLC lifted its holdings in Lamar Advertising by 3.7% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 68,054 shares of the real estate investment trust’s stock valued at $5,295,000 after purchasing an additional 2,427 shares during the last quarter. Waratah Capital Advisors Ltd. lifted its holdings in Lamar Advertising by 45.1% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 429,914 shares of the real estate investment trust’s stock valued at $33,447,000 after purchasing an additional 133,621 shares during the last quarter. Great Lakes Advisors LLC bought a new position in Lamar Advertising during the 3rd quarter valued at about $209,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Lamar Advertising by 6.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 45,571 shares of the real estate investment trust’s stock valued at $3,545,000 after purchasing an additional 2,630 shares during the last quarter. Institutional investors own 83.78% of the company’s stock.
Several equities analysts recently issued reports on LAMR shares. Morgan Stanley lifted their price target on shares of Lamar Advertising from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, December 7th. Imperial Capital reissued an “outperform” rating and set a $88.00 price target (down from $94.00) on shares of Lamar Advertising in a report on Wednesday, January 23rd. Wolfe Research began coverage on shares of Lamar Advertising in a report on Friday, December 7th. They set an “underperform” rating for the company. BidaskClub downgraded shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, Zacks Investment Research raised shares of Lamar Advertising from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $77.50.
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Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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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