Lamar Advertising Sees Unusually High Options Volume (LAMR)

Lamar Advertising Company (NASDAQ:LAMR) saw unusually large options trading on Wednesday. Traders bought 5,774 put options on the company. This is an increase of 1,013% compared to the typical daily volume of 519 put options.

A number of large investors have recently added to or reduced their stakes in LAMR. Janus Henderson Group PLC bought a new stake in Lamar Advertising in the 2nd quarter worth approximately $598,020,000. Victory Capital Management Inc. increased its stake in Lamar Advertising by 81.2% in the 2nd quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock worth $176,805,000 after acquiring an additional 1,077,170 shares during the last quarter. BlackRock Inc. increased its stake in Lamar Advertising by 7.5% in the 2nd quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock worth $559,646,000 after acquiring an additional 528,392 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Lamar Advertising during the 2nd quarter valued at approximately $33,402,000. Finally, Renaissance Technologies LLC increased its position in shares of Lamar Advertising by 251.7% during the 2nd quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock valued at $28,825,000 after purchasing an additional 280,388 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lamar Advertising (NASDAQ:LAMR) opened at $75.69 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.23. Lamar Advertising has a 12 month low of $62.45 and a 12 month high of $79.09. The stock has a market capitalization of $6,360.00, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 5.22 and a beta of 1.14.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm had revenue of $399.30 million during the quarter, compared to the consensus estimate of $392.10 million. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. sell-side analysts expect that Lamar Advertising will post 4.83 earnings per share for the current year.

LAMR has been the topic of a number of research analyst reports. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Morgan Stanley lowered their price target on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. MKM Partners lowered their price target on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Citigroup Inc. reissued a “neutral” rating and issued a $66.00 price target (down from $69.00) on shares of Lamar Advertising in a report on Friday, August 11th. Finally, BidaskClub downgraded Lamar Advertising from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Lamar Advertising has an average rating of “Hold” and an average price target of $73.00.

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About Lamar Advertising

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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