GAMMA Investing LLC Buys 77,861 Shares of Lamar Advertising (NASDAQ:LAMR)

GAMMA Investing LLC lifted its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 10,231.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 78,622 shares of the real estate investment trust's stock after acquiring an additional 77,861 shares during the quarter. GAMMA Investing LLC owned 0.08% of Lamar Advertising worth $8,946,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in shares of Lamar Advertising in the fourth quarter worth $25,000. Bessemer Group Inc. grew its position in shares of Lamar Advertising by 106.7% in the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after buying an additional 143 shares during the period. Blue Trust Inc. boosted its stake in Lamar Advertising by 58.4% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares in the last quarter. McIlrath & Eck LLC boosted its stake in Lamar Advertising by 175.1% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 450 shares in the last quarter. Finally, GeoWealth Management LLC lifted its stake in Lamar Advertising by 100.8% during the 4th quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 388 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR stock remained flat at $121.67 on Wednesday. 339,123 shares of the company were exchanged, compared to its average volume of 520,575. The stock's 50-day simple moving average is $114.88 and its two-hundred day simple moving average is $120.36. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $12.46 billion, a P/E ratio of 34.47 and a beta of 1.35.

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

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising's dividend payout ratio (DPR) is presently 150.49%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup upgraded 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 note on Thursday, May 29th. Morgan Stanley decreased their target price on shares of Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $134.00.

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.