Lamar Advertising Co (NASDAQ:LAMR) CFO Keith A. Istre sold 16,294 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $80.28, for a total transaction of $1,308,082.32. Following the completion of the transaction, the chief financial officer now directly owns 118,991 shares of the company’s stock, valued at $9,552,597.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
LAMR traded up $0.79 during trading on Thursday, reaching $82.55. 2,074 shares of the company’s stock were exchanged, compared to its average volume of 364,482. Lamar Advertising Co has a 1 year low of $64.51 and a 1 year high of $83.51. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $8.17 billion, a PE ratio of 15.02 and a beta of 1.00.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.43). The business had revenue of $384.50 million for the quarter, compared to analysts’ expectations of $384.84 million. Lamar Advertising had a return on equity of 30.95% and a net margin of 20.68%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. As a group, analysts predict that Lamar Advertising Co will post 5.6 EPS for the current fiscal year.
A number of research firms have issued reports on LAMR. Imperial Capital reissued an “outperform” rating and set a $88.00 price target (down from $94.00) on shares of Lamar Advertising in a research report on Wednesday, January 23rd. BidaskClub lowered shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, MKM Partners raised their price target on shares of Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $78.50.
Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of Lamar Advertising by 169.5% during the 1st quarter. Parallel Advisors LLC now owns 318 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 200 shares during the period. Tompkins Financial Corp grew its stake in shares of Lamar Advertising by 63.3% during the 1st quarter. Tompkins Financial Corp now owns 343 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 133 shares during the period. Taylor Hoffman Wealth Management acquired a new stake in shares of Lamar Advertising during the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Lamar Advertising during the 1st quarter worth approximately $34,000. Finally, Whittier Trust Co. grew its stake in shares of Lamar Advertising by 336.2% during the 4th quarter. Whittier Trust Co. now owns 458 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 353 shares during the period. 81.88% of the stock is currently owned by institutional investors and hedge funds.
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Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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