Fmr LLC Cuts Position in Lamar Advertising (NASDAQ:LAMR)

FMR LLC cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,981,664 shares of the real estate investment trust's stock after selling 94,274 shares during the quarter. FMR LLC owned approximately 4.87% of Lamar Advertising worth $665,550,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 151 shares during the last quarter. Concord Wealth Partners purchased a new stake in Lamar Advertising during the third quarter valued at about $26,000. Whittier Trust Co. boosted its position 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 purchasing an additional 130 shares during the period. Assetmark Inc. increased its stake in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lamar Advertising in the second quarter valued at approximately $30,000. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LAMR has been the topic of a number of analyst reports. StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. TD Cowen increased their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lowered 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lamar Advertising has an average rating of "Hold" and an average target price of $132.40.

Lamar Advertising Trading Up 0.3 %

NASDAQ:LAMR traded up $0.40 during trading hours on Friday, reaching $134.02. The company's stock had a trading volume of 242,404 shares, compared to its average volume of 410,758. The firm has a 50-day simple moving average of $132.61 and a 200-day simple moving average of $124.15. 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 1 year low of $99.54 and a 1 year high of $139.88. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 26.80 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to analysts' expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. Lamar Advertising's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $2.04 earnings per share. Research analysts expect that Lamar Advertising will post 7.52 EPS for the current fiscal 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.