Edgestream Partners L.P. Makes New $3.22 Million Investment in Lamar Advertising (NASDAQ:LAMR)

Edgestream Partners L.P. bought a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,123 shares of the real estate investment trust's stock, valued at approximately $3,223,000.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Lamar Advertising by 81.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust's stock valued at $112,052,000 after acquiring an additional 420,311 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Lamar Advertising during the third quarter worth $43,665,000. International Assets Investment Management LLC increased its holdings in Lamar Advertising by 49,140.4% in the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust's stock valued at $38,090,000 after purchasing an additional 284,523 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Lamar Advertising by 148.9% in the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust's stock valued at $58,058,000 after buying an additional 259,979 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Lamar Advertising by 129.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,267 shares of the real estate investment trust's stock worth $31,432,000 after buying an additional 132,734 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

LAMR traded down $0.38 on Monday, hitting $133.64. 404,707 shares of the stock were exchanged, compared to its average volume of 410,732. The firm has a market capitalization of $13.68 billion, a price-to-earnings ratio of 26.73 and a beta of 1.52. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 12 month low of $100.15 and a 12 month high of $139.88. The business has a 50-day moving average of $132.59 and a two-hundred day moving average of $124.40.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly 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). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. Lamar Advertising's quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $2.04 EPS. Sell-side analysts forecast that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LAMR has been the subject of a number of recent analyst reports. StockNews.com cut shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Wells Fargo & Company dropped their price target on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Finally, TD Cowen raised their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $132.40.

About Lamar Advertising

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.