HighTower Advisors LLC Raises Stake in Lamar Advertising (NASDAQ:LAMR)

HighTower Advisors LLC boosted its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 626,950 shares of the real estate investment trust's stock after acquiring an additional 29,683 shares during the period. HighTower Advisors LLC owned 0.61% of Lamar Advertising worth $83,708,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Boston Trust Walden Corp grew its stake in Lamar Advertising by 2.3% during the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust's stock valued at $47,774,000 after acquiring an additional 8,857 shares in the last quarter. Csenge Advisory Group purchased a new position in Lamar Advertising in the 2nd quarter worth approximately $722,000. Natixis Advisors LLC grew its stake in Lamar Advertising by 13.1% in the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust's stock worth $7,225,000 after buying an additional 6,979 shares in the last quarter. Acadian Asset Management LLC grew its stake in Lamar Advertising by 179.4% in the 2nd quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust's stock worth $2,226,000 after buying an additional 11,967 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Lamar Advertising in the 3rd quarter worth approximately $43,665,000. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Trading Up 0.3 %

Shares of NASDAQ:LAMR traded up $0.42 on Wednesday, hitting $132.54. The company had a trading volume of 257,131 shares, compared to its average volume of 410,039. The firm's 50-day simple moving average is $132.52 and its two-hundred day simple moving average is $124.54. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 26.51 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to analysts' expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 earnings per share. Equities analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LAMR has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. TD Cowen boosted their price objective 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. StockNews.com lowered shares of Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a report 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $132.40.

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.