Rafferty Asset Management LLC lessened its holdings in Lamar Advertising Co (NASDAQ:LAMR) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,612 shares of the real estate investment trust’s stock after selling 2,218 shares during the period. Rafferty Asset Management LLC’s holdings in Lamar Advertising were worth $1,526,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in LAMR. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $137,000. Qube Research & Technologies Ltd purchased a new position in Lamar Advertising in the second quarter valued at approximately $164,000. McKinley Carter Wealth Services Inc. purchased a new position in Lamar Advertising in the third quarter valued at approximately $200,000. SPC Financial Inc. purchased a new position in Lamar Advertising in the third quarter valued at approximately $202,000. Finally, Anchor Capital Advisors LLC purchased a new position in Lamar Advertising in the second quarter valued at approximately $242,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.
Several research firms recently commented on LAMR. Citigroup upped their price objective on Lamar Advertising from $68.00 to $69.00 and gave the company a “sell” rating in a research note on Wednesday, August 15th. BidaskClub upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. ValuEngine upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Zacks Investment Research downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Wells Fargo & Co upped their price objective on Lamar Advertising from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Lamar Advertising has a consensus rating of “Hold” and an average target price of $77.33.
Lamar Advertising stock opened at $75.32 on Friday. Lamar Advertising Co has a 12 month low of $61.36 and a 12 month high of $80.68. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.30. The company has a market capitalization of $7.53 billion, a P/E ratio of 14.91 and a beta of 1.13.
Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, November 8th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.44). The company had revenue of $418.50 million for the quarter, compared to analysts’ expectations of $421.29 million. Lamar Advertising had a return on equity of 27.51% and a net margin of 18.57%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, analysts predict that Lamar Advertising Co will post 5.12 earnings per share for the current year.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
Further Reading: Hedge Funds
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