Fmr LLC Trims Stock Position in Lamar Advertising (NASDAQ:LAMR)

Fmr LLC trimmed its holdings in Lamar Advertising (NASDAQ:LAMR) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,981,664 shares of the real estate investment trust’s stock after selling 94,274 shares during the period. Fmr LLC owned 4.87% of Lamar Advertising worth $665,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAMR. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Lamar Advertising by 19.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,428 shares of the real estate investment trust’s stock valued at $409,000 after purchasing an additional 558 shares during the last quarter. Tidal Investments LLC acquired a new position in Lamar Advertising in the first quarter valued at $228,000. Atria Investments Inc boosted its holdings in Lamar Advertising by 5.0% in the first quarter. Atria Investments Inc now owns 13,592 shares of the real estate investment trust’s stock valued at $1,623,000 after acquiring an additional 645 shares during the last quarter. Invst LLC purchased a new stake in Lamar Advertising during the first quarter valued at about $747,000. Finally, Cetera Investment Advisers increased its stake in Lamar Advertising by 307.1% during the first quarter. Cetera Investment Advisers now owns 67,195 shares of the real estate investment trust’s stock worth $8,024,000 after acquiring an additional 50,688 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their target price on shares of 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Up 0.4 %

NASDAQ LAMR opened at $133.62 on Friday. The stock has a market cap of $13.68 billion, a PE ratio of 26.72 and a beta of 1.52. The business has a 50 day moving average price of $132.61 and a two-hundred day moving average price of $124.15. Lamar Advertising has a fifty-two week low of $97.99 and a fifty-two 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 released its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same period in the previous year, the business posted $2.04 earnings per share. Lamar Advertising’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Lamar Advertising will post 7.52 EPS for the current fiscal 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.