Lamar Advertising Co (NASDAQ:LAMR) CEO Sean E. Reilly sold 50,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $78.64, for a total transaction of $3,932,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ:LAMR traded down $0.52 during mid-day trading on Friday, reaching $77.78. 626,284 shares of the company were exchanged, compared to its average volume of 387,872. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $7.80 billion, a P/E ratio of 14.14 and a beta of 1.00. Lamar Advertising Co has a 1 year low of $61.36 and a 1 year high of $80.68.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.38). The company had revenue of $427.90 million for the quarter, compared to analysts’ expectations of $426.29 million. Lamar Advertising had a return on equity of 28.12% and a net margin of 18.76%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. Research analysts forecast that Lamar Advertising Co will post 5.59 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of Lamar Advertising from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. MKM Partners upped 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. Morgan Stanley increased their price objective on shares of Lamar Advertising from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, December 7th. Finally, Wolfe Research started coverage on shares of Lamar Advertising in a report on Friday, December 7th. They issued an “underperform” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $78.50.
A number of hedge funds have recently modified their holdings of LAMR. Oregon Public Employees Retirement Fund lifted its position in shares of Lamar Advertising by 6,818.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,264,394 shares during the last quarter. Vanguard Group Inc raised its stake in Lamar Advertising by 7.5% during the 3rd quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock worth $965,072,000 after acquiring an additional 867,169 shares in the last quarter. Norges Bank acquired a new stake in Lamar Advertising during the 4th quarter worth $45,636,000. Rothschild & Co. Asset Management US Inc. acquired a new stake in Lamar Advertising during the 4th quarter worth $20,855,000. Finally, Millennium Management LLC increased its stake in Lamar Advertising by 183.4% in the fourth quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock valued at $25,244,000 after purchasing an additional 236,151 shares during the period. 81.71% of the stock is owned by institutional investors.
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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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