Lamar Advertising (NASDAQ:LAMR) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 10,231.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,622 shares of the real estate investment trust's stock after acquiring an additional 77,861 shares during the period. GAMMA Investing LLC owned approximately 0.08% of Lamar Advertising worth $8,946,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Rialto Wealth Management LLC purchased a new stake in Lamar Advertising during the 4th quarter worth about $25,000. Bessemer Group Inc. raised 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 acquiring an additional 143 shares in the last quarter. Blue Trust Inc. raised its holdings in Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. McIlrath & Eck LLC lifted its stake in Lamar Advertising by 175.1% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock worth $86,000 after acquiring an additional 450 shares during the last quarter. Finally, GeoWealth Management LLC lifted its stake in Lamar Advertising by 100.8% in the fourth quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust's stock worth $94,000 after acquiring an additional 388 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR stock traded up $0.93 during mid-day trading on Friday, hitting $121.03. 385,721 shares of the stock were exchanged, compared to its average volume of 521,156. The stock's fifty day simple moving average is $114.21 and its two-hundred day simple moving average is $120.47. 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 has a 12-month low of $99.84 and a 12-month high of $139.88. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 34.29 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. On average, analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.12%. The ex-dividend date is Monday, June 16th. Lamar Advertising's payout ratio is currently 150.49%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LAMR shares. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Morgan Stanley dropped their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $134.00.

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.