Meeder Asset Management Inc. lessened its position in shares of Lamar Advertising (NASDAQ:LAMR) by 50.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,670 shares of the real estate investment trust’s stock after selling 6,887 shares during the quarter. Meeder Asset Management Inc.’s holdings in Lamar Advertising were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Heartland Advisors Inc. lifted its position in shares of Lamar Advertising by 450.6% during the 4th quarter. Heartland Advisors Inc. now owns 191,323 shares of the real estate investment trust’s stock valued at $14,204,000 after buying an additional 156,573 shares during the last quarter. Comerica Bank lifted its position in shares of Lamar Advertising by 12.1% during the 4th quarter. Comerica Bank now owns 169,188 shares of the real estate investment trust’s stock valued at $12,266,000 after buying an additional 18,217 shares during the last quarter. TradeLink Capital LLC purchased a new position in shares of Lamar Advertising during the 4th quarter valued at $208,000. Victory Capital Management Inc. lifted its position in shares of Lamar Advertising by 8.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,807,177 shares of the real estate investment trust’s stock valued at $208,404,000 after buying an additional 211,029 shares during the last quarter. Finally, HL Financial Services LLC purchased a new position in shares of Lamar Advertising during the 4th quarter valued at $212,000. 84.37% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on LAMR shares. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Citigroup cut Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price target on the stock. in a research report on Wednesday, December 20th. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley upped their price target on Lamar Advertising from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $72.25.

Shares of Lamar Advertising (LAMR) opened at $66.61 on Friday. The stock has a market capitalization of $6,488.57, a PE ratio of 13.21, a P/E/G ratio of 4.28 and a beta of 1.02. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55. Lamar Advertising has a 1-year low of $62.45 and a 1-year high of $79.17.

In related news, Director Stephen P. Mumblow sold 4,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the sale, the director now owns 11,031 shares of the company’s stock, valued at approximately $864,058.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.70% of the company’s stock.

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Lamar Advertising Profile

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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