Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC boosted its position in Lamar Advertising (NASDAQ:LAMR) by 4.7% in the 3rd quarter, Holdings Channel reports. The fund owned 40,901 shares of the real estate investment trust’s stock after purchasing an additional 1,840 shares during the period. Townsquare Capital LLC’s holdings in Lamar Advertising were worth $5,464,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in Lamar Advertising in the 3rd quarter valued at about $25,000. Whittier Trust Co. increased its stake in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Concord Wealth Partners acquired a new position in shares of Lamar Advertising during the 3rd quarter valued at about $26,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising during the 2nd quarter worth about $30,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $133.62 on Friday. The company’s fifty day simple moving average is $132.61 and its 200-day simple moving average is $124.15. Lamar Advertising has a 52 week low of $97.99 and a 52 week high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The company has a market cap of $13.68 billion, a PE ratio of 26.72 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same period in the prior year, the business posted $2.04 EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that Lamar Advertising will post 7.52 EPS for the current year.

Analysts Set New Price Targets

LAMR has been the subject of several research analyst reports. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. TD Cowen increased their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising 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.