Stock Traders Buy High Volume of Lamar Advertising Call Options (LAMR)

Lamar Advertising Co (NASDAQ:LAMR) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 1,157 call options on the stock. This is an increase of approximately 1,093% compared to the average daily volume of 97 call options.

In other news, CFO Keith A. Istre sold 22,263 shares of Lamar Advertising stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $76.84, for a total transaction of $1,710,688.92. Following the completion of the sale, the chief financial officer now owns 135,185 shares of the company’s stock, valued at $10,387,615.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean E. Reilly sold 107,606 shares of Lamar Advertising stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $79.55, for a total transaction of $8,560,057.30. The disclosure for this sale can be found here. Insiders have sold 179,869 shares of company stock valued at $14,202,746 in the last ninety days. Insiders own 15.64% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Taylor Hoffman Wealth Management purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at $26,000. Whittier Trust Co. grew its holdings in shares of Lamar Advertising by 336.2% during the fourth quarter. Whittier Trust Co. now owns 458 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 353 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Lamar Advertising by 6,818.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,264,394 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at $42,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Lamar Advertising by 70.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 316 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ LAMR opened at $77.87 on Thursday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.80 and a current ratio of 0.80. Lamar Advertising has a 12-month low of $61.36 and a 12-month high of $80.68. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 14.16 and a beta of 1.00.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.38). Lamar Advertising had a return on equity of 28.12% and a net margin of 18.76%. The firm had revenue of $427.90 million during the quarter, compared to analysts’ expectations of $426.29 million. During the same period in the prior year, the firm posted $0.88 earnings per share. Lamar Advertising’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Lamar Advertising will post 5.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.96 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, March 14th. Lamar Advertising’s payout ratio is currently 69.82%.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Lamar Advertising from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Tuesday, December 11th. BidaskClub downgraded shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Wolfe Research began coverage on shares of Lamar Advertising in a research note on Friday, December 7th. They set an “underperform” rating for the company. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. Finally, Imperial Capital reissued an “outperform” rating and issued a $88.00 price objective (down previously from $94.00) on shares of Lamar Advertising in a research note on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $78.50.

ILLEGAL ACTIVITY NOTICE: “Stock Traders Buy High Volume of Lamar Advertising Call Options (LAMR)” was originally published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://www.thelincolnianonline.com/2019/03/21/stock-traders-buy-high-volume-of-lamar-advertising-call-options-lamr.html.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

Featured Story: Why is the price-sales ratio important?

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.