FMR LLC & Abigail Johnson Trim Lamar Advertising Stake to 6.201%
Ticker: LAMR · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 1090425
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**FMR LLC and Abigail Johnson slightly reduced their stake in Lamar Advertising to 6.201%.**
AI Summary
FMR LLC, a major investment firm, and its CEO, Abigail P. Johnson, have updated their ownership stake in Lamar Advertising Co/New (LAMR). As of February 9, 2024, they collectively beneficially own 5,430,995 shares of Class A Common Stock, representing 6.201% of the company. This filing indicates a slight decrease in their reported beneficial ownership from a previous filing, which could signal a minor shift in their investment strategy or portfolio rebalancing, potentially impacting investor sentiment for LAMR stock.
Why It Matters
This matters because a significant institutional investor like FMR LLC adjusting its stake can influence market perception and potentially the stock price of Lamar Advertising Co/New.
Risk Assessment
Risk Level: low — The change in ownership percentage is minor and does not indicate a significant divestment or acquisition that would drastically alter the company's control or market stability.
Analyst Insight
A smart investor would note this minor adjustment by a major institutional holder but recognize it's not a strong signal for immediate action. It's worth monitoring future filings from FMR LLC for any more significant changes in their stake, which could indicate a stronger conviction about Lamar Advertising's future.
Key Numbers
- 5,430,995 — Shares Beneficially Owned (This is the total number of Class A Common Stock shares FMR LLC and Abigail P. Johnson beneficially own in Lamar Advertising Co/New as of the filing date.)
- 6.201% — Percentage of Class A Common Stock (This represents the proportion of Lamar Advertising Co/New's Class A Common Stock owned by FMR LLC and Abigail P. Johnson, indicating their significant, but slightly reduced, stake.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, likely CEO of FMR LLC
- LAMAR ADVERTISING CO/NEW (company) — the issuer of the securities
- 5,430,995 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 6.201% (dollar_amount) — percentage of Class A Common Stock beneficially owned
Forward-Looking Statements
- Lamar Advertising Co/New's stock price will remain relatively stable in the short term due to the minor adjustment in institutional ownership. (LAMAR ADVERTISING CO/NEW) — medium confidence, target: 3 months
FAQ
Who are the reporting persons in this SC 13G/A filing?
The reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of Class A Common Stock shares of LAMAR ADVERTISING CO/NEW beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each report beneficially owning 5,430,995 shares of Class A Common Stock, as per Item 7 for both reporting persons and Item 4(a) for FMR LLC.
What percentage of LAMAR ADVERTISING CO/NEW's Class A Common Stock do the reporting persons beneficially own?
Both FMR LLC and Abigail P. Johnson beneficially own 6.201% of the Class A Common Stock, as indicated in Item 11 for both reporting persons.
What is the CUSIP number for the Class A Common Stock of LAMAR ADVERTISING CO/NEW?
The CUSIP number for the Class A Common Stock is 512816109, as stated in Item 2(e) and at the beginning of the filing.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box at the beginning of the filing and in Item 3.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding LAMAR ADVERTISING CO/NEW (LAMR).