Harvest Fund Management Co. Ltd Sells 247 Shares of Lamar Advertising (NASDAQ:LAMR)

Harvest Fund Management Co. Ltd reduced its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,839 shares of the real estate investment trust’s stock after selling 247 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Lamar Advertising were worth $246,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LAMR. Daiwa Securities Group Inc. grew its stake in Lamar Advertising by 148.9% during the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock worth $58,058,000 after purchasing an additional 259,979 shares during the period. Capital Investment Counsel LLC increased its stake in shares of Lamar Advertising by 2.0% in the 3rd quarter. Capital Investment Counsel LLC now owns 58,038 shares of the real estate investment trust’s stock valued at $7,754,000 after acquiring an additional 1,125 shares in the last quarter. Algert Global LLC lifted its position in shares of Lamar Advertising by 0.4% during the 3rd quarter. Algert Global LLC now owns 71,910 shares of the real estate investment trust’s stock valued at $9,607,000 after acquiring an additional 320 shares during the period. Cerity Partners LLC boosted its stake in Lamar Advertising by 71.0% during the third quarter. Cerity Partners LLC now owns 22,229 shares of the real estate investment trust’s stock worth $2,970,000 after acquiring an additional 9,232 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Lamar Advertising in the third quarter worth $4,250,000. 93.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LAMR has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Cowen boosted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Morgan Stanley raised 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Down 0.3 %

LAMR opened at $133.08 on Wednesday. Lamar Advertising has a fifty-two week low of $97.54 and a fifty-two week high of $139.88. The firm has a market capitalization of $13.62 billion, a P/E ratio of 26.62 and a beta of 1.52. The company’s 50-day moving average is $132.52 and its 200 day moving average is $124.01. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR) last announced its 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). The business 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 quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.04 EPS. Research analysts expect that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Company 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.