Lamar Advertising (NASDAQ:LAMR) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its stake in Lamar Advertising (NASDAQ:LAMR) by 3.9% during the third quarter, Holdings Channel.com reports. The firm owned 49,073 shares of the real estate investment trust’s stock after purchasing an additional 1,824 shares during the quarter. MetLife Investment Management LLC’s holdings in Lamar Advertising were worth $6,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Trust Walden Corp raised its holdings in Lamar Advertising by 2.3% in 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 stake in shares of Lamar Advertising in the 2nd quarter valued at approximately $722,000. Natixis Advisors LLC increased its position in shares of 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 valued at $7,225,000 after purchasing an additional 6,979 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Lamar Advertising by 179.4% during 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 purchasing an additional 11,967 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Lamar Advertising during the third quarter worth $43,665,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.3 %

Shares of NASDAQ LAMR opened at $134.02 on Friday. The business has a 50-day moving average price of $132.62 and a 200 day moving average price of $124.25. The stock has a market cap of $13.72 billion, a PE ratio of 26.80 and a beta of 1.52. 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 has a 52-week low of $99.54 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). The firm had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. Lamar Advertising’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 earnings per share. Equities research analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LAMR. Morgan Stanley raised their price target 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. TD Cowen raised their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their price target on 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 cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given 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.

Lamar Advertising Company 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.