Lamar Advertising Company $LAMR Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC lifted its position in Lamar Advertising Company (NASDAQ:LAMR) by 35.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,575 shares of the real estate investment trust’s stock after acquiring an additional 18,675 shares during the quarter. Gabelli Funds LLC owned 0.07% of Lamar Advertising worth $8,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Wealth lifted its position in shares of Lamar Advertising by 14.6% in the 1st quarter. Focus Partners Wealth now owns 21,739 shares of the real estate investment trust’s stock worth $2,473,000 after buying an additional 2,768 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Lamar Advertising by 0.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,106 shares of the real estate investment trust’s stock worth $11,785,000 after acquiring an additional 733 shares during the period. Millennium Management LLC lifted its holdings in Lamar Advertising by 158.6% in the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after acquiring an additional 188,213 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Lamar Advertising by 5.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,357 shares of the real estate investment trust’s stock valued at $2,349,000 after acquiring an additional 944 shares during the period. Finally, Meixler Investment Management Ltd. grew its holdings in shares of Lamar Advertising by 47.0% during the second quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the real estate investment trust’s stock valued at $1,171,000 after purchasing an additional 3,086 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

Shares of LAMR opened at $131.49 on Tuesday. Lamar Advertising Company has a one year low of $99.84 and a one year high of $134.63. The stock’s fifty day moving average is $124.40 and its 200-day moving average is $123.52. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 30.87 and a beta of 1.23.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Lamar Advertising had a net margin of 19.27% and a return on equity of 43.02%. The firm had revenue of $585.54 million during the quarter, compared to analyst estimates of $584.00 million. Equities analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current year.

Analyst Ratings Changes

LAMR has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Citigroup increased their target price on Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Wells Fargo & Company cut their target price on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $131.75.

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.