UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 129.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 235,267 shares of the real estate investment trust's stock after acquiring an additional 132,734 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.23% of Lamar Advertising worth $31,432,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new stake in shares of Lamar Advertising in the 1st quarter valued at approximately $228,000. Cetera Advisors LLC raised its position in Lamar Advertising by 76.6% in the first quarter. Cetera Advisors LLC now owns 8,236 shares of the real estate investment trust's stock valued at $984,000 after purchasing an additional 3,572 shares during the period. GAMMA Investing LLC lifted its stake in Lamar Advertising by 112.4% during the second quarter. GAMMA Investing LLC now owns 410 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 217 shares in the last quarter. CWM LLC boosted its position in shares of Lamar Advertising by 35.5% during the second quarter. CWM LLC now owns 2,908 shares of the real estate investment trust's stock worth $348,000 after buying an additional 762 shares during the period. Finally, Simplicity Wealth LLC grew its stake in shares of Lamar Advertising by 0.4% in the second quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust's stock valued at $3,301,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on LAMR shares. TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Morgan Stanley raised their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Wells Fargo & Company dropped 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. Finally, StockNews.com lowered shares of Lamar Advertising from a "buy" rating to a "hold" 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $132.40.
Read Our Latest Analysis on LAMR
Lamar Advertising Stock Down 0.8 %
Shares of LAMR stock traded down $1.03 during trading hours on Thursday, reaching $131.51. 346,955 shares of the stock were exchanged, compared to its average volume of 409,770. The business's fifty day moving average is $132.50 and its two-hundred day moving average is $124.59. The firm has a market capitalization of $13.46 billion, a P/E ratio of 26.30 and a beta of 1.50. Lamar Advertising has a 12-month low of $100.15 and a 12-month high of $139.88. 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 (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $564.10 million during the quarter, compared to analysts' expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. 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 company posted $2.04 earnings per share. As a group, research analysts expect that Lamar Advertising will post 7.52 EPS for the current fiscal year.
Lamar Advertising Company Profile
(
Free Report)
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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