Lamar Advertising (NASDAQ:LAMR) Sees Significant Growth in Short Interest

Lamar Advertising (NASDAQ:LAMR) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,580,000 shares, an increase of 24.0% from the October 15th total of 2,080,000 shares. Based on an average trading volume of 384,600 shares, the short-interest ratio is presently 6.7 days.

Institutional Trading of Lamar Advertising

Institutional investors have recently made changes to their positions in the stock. IHT Wealth Management LLC purchased a new stake in Lamar Advertising in the 3rd quarter worth approximately $286,000. Janus Henderson Group PLC boosted its holdings in shares of Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock valued at $567,632,000 after buying an additional 119,068 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Lamar Advertising by 5.0% in the 3rd quarter. HighTower Advisors LLC now owns 626,950 shares of the real estate investment trust’s stock worth $83,708,000 after buying an additional 29,683 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Lamar Advertising by 17.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 3,472 shares of the real estate investment trust’s stock worth $464,000 after purchasing an additional 514 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of Lamar Advertising in the 3rd quarter worth $1,345,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock traded down $1.53 during mid-day trading on Friday, hitting $125.62. 174,688 shares of the stock were exchanged, compared to its average volume of 406,748. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.41. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 25.43 and a beta of 1.52. The business has a fifty day moving average price of $131.98 and a 200 day moving average price of $123.22. Lamar Advertising has a 12 month low of $95.83 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the previous year, the business earned $2.04 EPS. Lamar Advertising’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.46%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company decreased their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Company Profile

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.