Lamar Advertising Co (LAMR) CEO Sean E. Reilly Sells 50,000 Shares

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.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.92. Lamar Advertising’s dividend payout ratio (DPR) is currently 66.91%.

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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