Louisiana State Employees Retirement System Lowers Position in Lamar Advertising (NASDAQ:LAMR)

Louisiana State Employees Retirement System reduced its stake in Lamar Advertising (NASDAQ:LAMR) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,800 shares of the real estate investment trust’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Lamar Advertising were worth $2,964,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LAMR. Wellington Management Group LLP purchased a new stake in shares of Lamar Advertising in the 4th quarter valued at approximately $111,255,000. Morningstar Investment Services LLC boosted its position in shares of Lamar Advertising by 97.6% during the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after buying an additional 451,429 shares during the period. Paralel Advisors LLC acquired a new stake in shares of Lamar Advertising in the fourth quarter valued at $3,950,000. Charles Schwab Investment Management Inc. grew its stake in shares of Lamar Advertising by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after buying an additional 30,567 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of Lamar Advertising by 82.8% in the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after buying an additional 281,582 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Ratings Changes

LAMR has been the subject of several research reports. TD Cowen lifted their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.25.

Lamar Advertising Stock Up 2.4 %

Shares of Lamar Advertising stock opened at $122.19 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $123.25. The company has a market capitalization of $12.49 billion, a P/E ratio of 25.09 and a beta of 1.52. The company has a 50 day moving average of $117.98 and a 200 day moving average of $115.93.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the previous year, the firm posted $1.90 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts forecast that Lamar Advertising will post 7.69 EPS 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.