First Trust Advisors LP raised its position in Lamar Advertising Company (NASDAQ:LAMR) by 37.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,305 shares of the real estate investment trust’s stock after purchasing an additional 35,239 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of Lamar Advertising worth $8,861,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LAMR. Janus Henderson Group PLC purchased a new position in Lamar Advertising in the second quarter valued at about $598,020,000. Victory Capital Management Inc. grew its stake in Lamar Advertising by 81.2% in the second quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock valued at $176,805,000 after purchasing an additional 1,077,170 shares in the last quarter. BlackRock Inc. grew its stake in Lamar Advertising by 7.5% in the second quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock valued at $559,646,000 after purchasing an additional 528,392 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Lamar Advertising in the second quarter valued at about $33,402,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Lamar Advertising by 251.7% during the 2nd quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock worth $28,825,000 after acquiring an additional 280,388 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.
Shares of Lamar Advertising Company (NASDAQ:LAMR) opened at $75.02 on Friday. The stock has a market capitalization of $7,354.44, a PE ratio of 15.03, a PEG ratio of 5.18 and a beta of 1.14. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.48 and a current ratio of 1.55.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.34). Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The business had revenue of $399.30 million for the quarter, compared to the consensus estimate of $392.10 million. During the same quarter in the previous year, the company earned $0.87 EPS. Lamar Advertising’s revenue for the quarter was up 3.0% compared to the same quarter last year. research analysts expect that Lamar Advertising Company will post 4.83 earnings per share for the current year.
Several analysts have recently issued reports on LAMR shares. BidaskClub downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Wells Fargo & Company downgraded Lamar Advertising from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. MKM Partners decreased their price target on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $66.00 price target (down previously from $69.00) on shares of Lamar Advertising in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Lamar Advertising has an average rating of “Hold” and a consensus target price of $73.00.
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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.
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