Global Retirement Partners LLC Purchases New Position in Lamar Advertising Company $LAMR

Global Retirement Partners LLC acquired a new position in shares of Lamar Advertising Company (NASDAQ:LAMR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,747 shares of the real estate investment trust’s stock, valued at approximately $1,304,000.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Lamar Advertising by 4.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,162,468 shares of the real estate investment trust’s stock worth $141,077,000 after purchasing an additional 52,800 shares in the last quarter. Private Management Group Inc. lifted its holdings in Lamar Advertising by 1.5% during the second quarter. Private Management Group Inc. now owns 176,536 shares of the real estate investment trust’s stock worth $21,424,000 after acquiring an additional 2,577 shares in the last quarter. Rhumbline Advisers grew its stake in Lamar Advertising by 5.1% in the second quarter. Rhumbline Advisers now owns 283,066 shares of the real estate investment trust’s stock valued at $34,353,000 after acquiring an additional 13,686 shares during the period. Journey Strategic Wealth LLC bought a new stake in shares of Lamar Advertising in the second quarter worth about $268,000. Finally, Franklin Resources Inc. increased its holdings in shares of Lamar Advertising by 8.8% in the second quarter. Franklin Resources Inc. now owns 67,764 shares of the real estate investment trust’s stock worth $8,224,000 after acquiring an additional 5,499 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LAMR. Wells Fargo & Company cut their price objective on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a report on Tuesday. Morgan Stanley raised 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, August 4th. Finally, Citigroup boosted their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $131.75.

Lamar Advertising Trading Down 0.1%

NASDAQ:LAMR opened at $132.42 on Thursday. The company has a market cap of $13.41 billion, a P/E ratio of 30.80 and a beta of 1.36. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $135.91. The business has a 50 day moving average price of $122.91 and a two-hundred day moving average price of $122.64. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The business had revenue of $585.54 million for the quarter, compared to analyst estimates of $584.00 million. As a group, analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

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.