Lamar Advertising Company $LAMR Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,066 shares of the real estate investment trust's stock after purchasing an additional 13,686 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Lamar Advertising worth $34,353,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC acquired a new stake in Lamar Advertising during the second quarter valued at $268,000. Franklin Resources Inc. grew its position in shares of Lamar Advertising by 8.8% during the 2nd quarter. Franklin Resources Inc. now owns 67,764 shares of the real estate investment trust's stock valued at $8,224,000 after acquiring an additional 5,499 shares during the period. Legal & General Group Plc grew its position in shares of Lamar Advertising by 5.1% during the 2nd quarter. Legal & General Group Plc now owns 227,008 shares of the real estate investment trust's stock valued at $27,550,000 after acquiring an additional 11,056 shares during the period. MAI Capital Management increased its stake in shares of Lamar Advertising by 43.3% in the 2nd quarter. MAI Capital Management now owns 516 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 156 shares in the last quarter. Finally, Willis Investment Counsel raised its holdings in Lamar Advertising by 92.1% in the 2nd quarter. Willis Investment Counsel now owns 5,733 shares of the real estate investment trust's stock worth $696,000 after purchasing an additional 2,748 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $132.54 on Wednesday. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The stock's fifty day moving average is $122.79 and its two-hundred day moving average is $122.58. The firm has a market capitalization of $13.42 billion, a P/E ratio of 30.82 and a beta of 1.36. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $135.91.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.06. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The business had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. On average, research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on LAMR. Citigroup raised their price objective on Lamar Advertising from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their target price on Lamar Advertising from $122.00 to $128.00 and gave the company a "neutral" rating in a research report on Wednesday, November 12th. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Lamar Advertising in a report on Wednesday, November 19th. Finally, Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $131.75.

Check Out Our Latest Report on Lamar Advertising

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.

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