Hamlin Capital Management LLC Purchases 43,081 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• Hamlin Capital Management LLC increased its stake in Lamar Advertising by 3.4%, acquiring an additional 43,081 shares, bringing its total holdings to approximately 1.31 million shares worth $149.2 million.
• Multiple hedge funds have also made significant moves with Lamar Advertising shares, with some increasing their positions by over 26,900% during the first quarter.
• Despite mixed ratings from analysts, the stock holds a consensus rating of "Hold" with an average target price of $134.20, following earnings that beat expectations with reported EPS of $2.22.

Hamlin Capital Management LLC lifted its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,311,526 shares of the real estate investment trust's stock after buying an additional 43,081 shares during the period. Lamar Advertising comprises 3.6% of Hamlin Capital Management LLC's investment portfolio, making the stock its 21st largest position. Hamlin Capital Management LLC owned 1.28% of Lamar Advertising worth $149,225,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Lamar Advertising in the first quarter valued at approximately $28,000. HHM Wealth Advisors LLC raised its holdings in Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 269 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 218 shares during the period. Bessemer Group Inc. grew its holdings in 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 acquiring an additional 143 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Lamar Advertising in the first quarter valued at about $60,000. Institutional investors own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $121.50 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The stock has a market capitalization of $12.44 billion, a PE ratio of 28.26 and a beta of 1.36. The firm's 50 day moving average price is $122.41 and its 200-day moving average price is $119.33. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $139.88.

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

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.

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