Edgestream Partners L.P. Purchases New Position in Lamar Advertising (NASDAQ:LAMR)

Edgestream Partners L.P. purchased a new stake in Lamar Advertising (NASDAQ:LAMR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,123 shares of the real estate investment trust’s stock, valued at approximately $3,223,000.

A number of other large investors have also recently modified their holdings of LAMR. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lamar Advertising by 81.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after purchasing an additional 420,311 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Lamar Advertising during the third quarter worth $43,665,000. International Assets Investment Management LLC lifted its holdings in Lamar Advertising by 49,140.4% during the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after buying an additional 284,523 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Lamar Advertising by 148.9% during the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock worth $58,058,000 after buying an additional 259,979 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Lamar Advertising by 129.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,267 shares of the real estate investment trust’s stock worth $31,432,000 after buying an additional 132,734 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $134.02 on Monday. The business’s fifty day simple moving average is $132.62 and its 200-day simple moving average is $124.30. The company has a market cap of $13.72 billion, a PE ratio of 26.80 and a beta of 1.52. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12-month low of $99.54 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same period in the previous year, the company earned $2.04 earnings per share. Lamar Advertising’s revenue was up 4.0% on a year-over-year basis. Analysts expect that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $132.40.

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.