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.
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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.
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