Redwood Investment Management LLC Increases Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Redwood Investment Management LLC increased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 4.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,168 shares of the real estate investment trust’s stock after acquiring an additional 480 shares during the period. Redwood Investment Management LLC’s holdings in Lamar Advertising were worth $1,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LAMR. IHT Wealth Management LLC acquired a new position in Lamar Advertising in the 3rd quarter valued at $286,000. Janus Henderson Group PLC raised its stake in Lamar Advertising by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock valued at $567,632,000 after purchasing an additional 119,068 shares during the last quarter. HighTower Advisors LLC raised its stake in Lamar Advertising by 5.0% in the 3rd quarter. HighTower Advisors LLC now owns 626,950 shares of the real estate investment trust’s stock valued at $83,708,000 after purchasing an additional 29,683 shares during the last quarter. Hilltop Holdings Inc. raised its stake in Lamar Advertising by 17.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 3,472 shares of the real estate investment trust’s stock valued at $464,000 after purchasing an additional 514 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in Lamar Advertising in the 3rd quarter valued at $1,345,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 0.8 %

Shares of LAMR opened at $131.51 on Friday. Lamar Advertising has a 52-week low of $100.15 and a 52-week high of $139.88. The company has a market capitalization of $13.46 billion, a PE ratio of 26.30 and a beta of 1.50. The stock has a fifty day simple moving average of $132.50 and a two-hundred day simple moving average of $124.59. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (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%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.04 earnings per share. As a group, equities analysts forecast that Lamar Advertising will post 7.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LAMR shares. Wells Fargo & Company reduced their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. TD Cowen increased their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.