Geneva Partners LLC purchased a new position in shares of Lamar Advertising Company (NASDAQ:LAMR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,755 shares of the real estate investment trust’s stock, valued at approximately $1,285,000.
Several other hedge funds also recently modified their holdings of LAMR. Teachers Advisors LLC lifted its position in shares of Lamar Advertising by 3.8% during the first quarter. Teachers Advisors LLC now owns 77,771 shares of the real estate investment trust’s stock worth $5,813,000 after purchasing an additional 2,827 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lamar Advertising by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,123 shares of the real estate investment trust’s stock worth $682,000 after acquiring an additional 534 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Lamar Advertising by 118.4% in the first quarter. Renaissance Technologies LLC now owns 111,412 shares of the real estate investment trust’s stock worth $8,327,000 after acquiring an additional 60,400 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Lamar Advertising by 4.2% in the first quarter. AQR Capital Management LLC now owns 27,575 shares of the real estate investment trust’s stock worth $2,061,000 after acquiring an additional 1,113 shares during the last quarter. Finally, Capstone Asset Management Co. lifted its holdings in Lamar Advertising by 2.5% in the second quarter. Capstone Asset Management Co. now owns 9,499 shares of the real estate investment trust’s stock worth $699,000 after acquiring an additional 230 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lamar Advertising Company (NASDAQ:LAMR) traded up $0.61 during trading hours on Monday, hitting $77.17. 367,043 shares of the company’s stock traded hands, compared to its average volume of 602,474. Lamar Advertising Company has a 12 month low of $62.45 and a 12 month high of $79.09. The firm has a market capitalization of $6,430.00, a price-to-earnings ratio of 15.34, a P/E/G ratio of 5.28 and a beta of 1.14. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.23.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS 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 firm had revenue of $399.30 million during the quarter, compared to analyst estimates of $392.10 million. During the same quarter in the previous year, the business posted $0.87 EPS. Lamar Advertising’s revenue for the quarter was up 3.0% compared to the same quarter last year. sell-side analysts anticipate that Lamar Advertising Company will post 4.83 EPS for the current fiscal year.
A number of equities analysts have issued reports on LAMR shares. Morgan Stanley cut their target price on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Wells Fargo & Company cut shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Citigroup Inc. reissued a “neutral” rating and issued a $66.00 target price (down previously from $69.00) on shares of Lamar Advertising in a report on Friday, August 11th. Finally, BidaskClub cut shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $73.00.
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About Lamar Advertising
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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