Lamar Advertising (NASDAQ:LAMR) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its position in Lamar Advertising (NASDAQ:LAMR) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,248,660 shares of the real estate investment trust’s stock after acquiring an additional 119,068 shares during the quarter. Janus Henderson Group PLC owned 4.15% of Lamar Advertising worth $567,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 151 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising during the third quarter worth about $25,000. Whittier Trust Co. increased its position in shares of Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising during the third quarter worth about $26,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising during the second quarter worth about $30,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $133.64 on Tuesday. The stock has a market capitalization of $13.68 billion, a P/E ratio of 26.73 and a beta of 1.50. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88. The business’s fifty day moving average is $132.59 and its two-hundred day moving average is $124.40. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56.

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

Analysts Set New Price Targets

LAMR has been the subject of a number of research reports. Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. TD Cowen boosted their price objective 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 dropped their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.