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

Centiva Capital LP decreased its holdings in Lamar Advertising (NASDAQ:LAMR) by 67.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,087 shares of the real estate investment trust’s stock after selling 14,766 shares during the period. Centiva Capital LP’s holdings in Lamar Advertising were worth $947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group bought a new stake in Lamar Advertising in the third quarter worth $25,000. Whittier Trust Co. boosted its stake in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the period. Concord Wealth Partners bought a new position in Lamar Advertising during the third quarter valued at $26,000. Finally, MFA Wealth Advisors LLC bought a new position in Lamar Advertising during the second quarter valued at $30,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

LAMR has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. 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 research note on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $131.51 on Friday. The firm’s 50 day simple moving average is $132.50 and its 200-day simple moving average is $124.59. 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 one year low of $100.15 and a one year high of $139.88. The firm has a market cap of $13.46 billion, a PE ratio of 26.30 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released 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). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the previous year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts predict that Lamar Advertising will post 7.52 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.