Independent Advisor Alliance Raises Stock Position in Lamar Advertising (NASDAQ:LAMR)

Independent Advisor Alliance grew its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,321 shares of the real estate investment trust’s stock after buying an additional 202 shares during the quarter. Independent Advisor Alliance’s holdings in Lamar Advertising were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Whittier Trust Co. raised its holdings in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares during the period. Concord Wealth Partners bought a new stake in Lamar Advertising in the third quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in Lamar Advertising during the second quarter worth $30,000. Finally, Assetmark Inc. increased its position in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. TD Cowen upped their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on shares of 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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Price Performance

Shares of LAMR opened at $133.62 on Friday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The company has a 50 day moving average price of $132.61 and a 200-day moving average price of $124.15. Lamar Advertising has a fifty-two week low of $97.99 and a fifty-two week high of $139.88. The stock has a market capitalization of $13.68 billion, a PE ratio of 26.72 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly 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 firm had revenue of $564.10 million for 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 business’s quarterly 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 analysts predict that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

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.