Lamar Advertising Company (NASDAQ:LAMR) Shares Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP significantly increased its ownership in Lamar Advertising Company by 159.3%, acquiring an additional 13,880 shares valued at approximately $2.57 million.
• Lamar Advertising reported a strong EPS of $2.22 for the last quarter, exceeding estimates of $1.48, although its revenue slightly fell short of expectations at $579.31 million.
• The company recently declared a quarterly dividend of $1.55, with an annual yield of 5.4%, and has a dividend payout ratio of 150.49%.

Entropy Technologies LP raised its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 159.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,592 shares of the real estate investment trust's stock after buying an additional 13,880 shares during the quarter. Entropy Technologies LP's holdings in Lamar Advertising were worth $2,571,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in Lamar Advertising by 7.1% during the 4th quarter. Bank of Montreal Can now owns 18,168 shares of the real estate investment trust's stock valued at $2,212,000 after buying an additional 1,203 shares in the last quarter. FIL Ltd acquired a new position in shares of Lamar Advertising in the fourth quarter valued at about $935,000. Renaissance Technologies LLC boosted its holdings in shares of Lamar Advertising by 270.2% in the 4th quarter. Renaissance Technologies LLC now owns 53,312 shares of the real estate investment trust's stock valued at $6,490,000 after acquiring an additional 38,912 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Lamar Advertising during the 4th quarter valued at about $48,023,000. Finally, Bessemer Group Inc. increased its holdings in Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on LAMR shares. Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Wells Fargo & Company cut their price target on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday. Finally, Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their target price for the company from $114.00 to $135.00 in a research report on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Lamar Advertising has an average rating of "Hold" and a consensus target price of $134.20.

Lamar Advertising Trading Down 0.2%

Shares of LAMR stock traded down $0.28 during mid-day trading on Thursday, reaching $121.22. The company's stock had a trading volume of 704,676 shares, compared to its average volume of 621,566. The firm has a market capitalization of $12.41 billion, a PE ratio of 28.19 and a beta of 1.36. The company has a quick ratio of 0.57, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The company's 50 day simple moving average is $122.41 and its 200-day simple moving average is $119.33.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.74. The firm had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. On average, research analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

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.