Edgestream Partners L.P. Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its stake in shares of Lamar Advertising by 19.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,428 shares of the real estate investment trust’s stock worth $409,000 after acquiring an additional 558 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Lamar Advertising during the 1st quarter worth about $228,000. Atria Investments Inc boosted its stake in shares of Lamar Advertising by 5.0% during the 1st quarter. Atria Investments Inc now owns 13,592 shares of the real estate investment trust’s stock worth $1,623,000 after acquiring an additional 645 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Lamar Advertising by 307.1% during the 1st quarter. Cetera Investment Advisers now owns 67,195 shares of the real estate investment trust’s stock worth $8,024,000 after acquiring an additional 50,688 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Lamar Advertising by 76.6% during the 1st quarter. Cetera Advisors LLC now owns 8,236 shares of the real estate investment trust’s stock worth $984,000 after acquiring an additional 3,572 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen increased their target price 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. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased 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. Finally, Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Up 0.3 %

LAMR stock opened at $134.02 on Monday. The company has a market cap of $13.72 billion, a price-to-earnings 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. The firm has a 50-day moving average of $132.62 and a two-hundred day moving average of $124.30.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data 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). The business had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.04 EPS. As a group, analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

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.