Lamar Advertising (NASDAQ:LAMR) Sees Large Decrease in Short Interest

Lamar Advertising (NASDAQ:LAMRGet Free Report) was the recipient of a significant decrease in short interest in the month of February. As of February 29th, there was short interest totalling 1,870,000 shares, a decrease of 5.1% from the February 14th total of 1,970,000 shares. Based on an average daily volume of 455,600 shares, the short-interest ratio is presently 4.1 days.

Analyst Upgrades and Downgrades

Several research firms have commented on LAMR. Morgan Stanley increased their target price on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research report on Monday, February 26th.

Check Out Our Latest Research Report on Lamar Advertising

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $116.07 on Wednesday. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. The company’s 50 day moving average is $109.21 and its 200 day moving average is $98.80. The company has a market cap of $11.85 billion, a PE ratio of 23.93 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The firm had revenue of $555.91 million during the quarter, compared to analysts’ expectations of $549.84 million. During the same quarter in the prior year, the firm posted $1.91 EPS. On average, sell-side analysts forecast that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s dividend payout ratio (DPR) is 107.22%.

Insiders Place Their Bets

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $1,189,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.90% of the stock is currently owned by insiders.

Institutional Trading of Lamar Advertising

A number of hedge funds and other institutional investors have recently made changes to their positions in LAMR. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the 4th quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its stake in Lamar Advertising by 243.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 282 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Quarry LP raised its stake in Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 133 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in Lamar Advertising in the 3rd quarter valued at $30,000. Finally, Geneos Wealth Management Inc. raised its stake in Lamar Advertising by 93.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 359 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 173 shares during the period. 79.80% of the stock is currently owned by institutional investors and hedge funds.

About Lamar Advertising

(Get Free Report)

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.

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