Lamar Advertising Co (LAMR): Are Hedge Funds Right About This Stock?

As aggregate interest increased, specific money managers have been driving this bullishness. Scopus Asset Management, managed by Alexander Mitchell, created the most valuable position in Lamar Advertising Co (NASDAQ:LAMR). Scopus Asset Management had $24.1 million invested in the company at the end of the quarter. Jonathan Litt’s Land & Buildings Investment Management also made a $8 million investment in the stock during the quarter. The other funds with brand new LAMR positions are Ray Carroll’s Breton Hill Capital, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Lamar Advertising Co (NASDAQ:LAMR) but similarly valued. We will take a look at Signet Jewelers Ltd. (NYSE:SIG), BorgWarner Inc. (NYSE:BWA), iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB), and American Financial Group (NYSE:AFG). This group of stocks’ market caps are closest to LAMR’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $763 million. That figure was $259 million in LAMR’s case. Signet Jewelers Ltd. (NYSE:SIG) is the most popular stock in this table. On the other hand American Financial Group (NYSE:AFG) is the least popular one with only 16 bullish hedge fund positions. Lamar Advertising Co (NASDAQ:LAMR) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SIG might be a better candidate to consider a long position.

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