Centiva Capital LP Sells 14,766 Shares of Lamar Advertising (NASDAQ:LAMR)

Centiva Capital LP trimmed its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 67.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,087 shares of the real estate investment trust’s stock after selling 14,766 shares during the quarter. Centiva Capital LP’s holdings in Lamar Advertising were worth $947,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. ClearAlpha Technologies LP purchased a new position in shares of Lamar Advertising in the 3rd quarter valued at $301,000. Semmax Financial Advisors Inc. grew its stake in Lamar Advertising by 2.7% in the third quarter. Semmax Financial Advisors Inc. now owns 37,042 shares of the real estate investment trust’s stock valued at $4,776,000 after purchasing an additional 959 shares during the last quarter. Edgestream Partners L.P. bought a new position in Lamar Advertising in the third quarter worth about $3,223,000. Fred Alger Management LLC raised its holdings in Lamar Advertising by 5.0% in the third quarter. Fred Alger Management LLC now owns 30,888 shares of the real estate investment trust’s stock worth $4,127,000 after purchasing an additional 1,458 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Lamar Advertising during the third quarter valued at about $342,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

LAMR has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company dropped their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Trading Down 0.8 %

Lamar Advertising stock opened at $131.51 on Friday. The stock has a 50-day moving average price of $132.50 and a 200 day moving average price of $124.59. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 26.30 and a beta of 1.50. Lamar Advertising has a 52 week low of $100.15 and a 52 week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 earnings per share. Sell-side analysts anticipate that Lamar Advertising will post 7.52 EPS for the current year.

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.