Lamar Advertising Co (NASDAQ:LAMR) Director Thomas V. Reifenheiser sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total transaction of $324,200.00. Following the sale, the director now directly owns 38,708 shares in the company, valued at approximately $3,137,283.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Lamar Advertising stock opened at $82.15 on Friday. The firm has a market capitalization of $8.21 billion, a PE ratio of 14.94 and a beta of 1.00. Lamar Advertising Co has a fifty-two week low of $64.51 and a fifty-two week 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.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.43). The firm had revenue of $384.50 million during the quarter, compared to the consensus estimate of $384.84 million. Lamar Advertising had a return on equity of 30.95% and a net margin of 20.68%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. As a group, sell-side analysts anticipate that Lamar Advertising Co will post 5.6 earnings per share for the current year.
A number of brokerages have issued reports on LAMR. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. BidaskClub cut shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Imperial Capital reissued an “outperform” rating and set a $88.00 target price (down previously from $94.00) on shares of Lamar Advertising in a report on Wednesday, January 23rd. Finally, MKM Partners boosted their target price on shares of Lamar Advertising to $81.00 and gave the company a “neutral” rating in a report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $78.50.
Several institutional investors have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. increased its holdings in shares of Lamar Advertising by 4.3% in the first quarter. First Allied Advisory Services Inc. now owns 3,107 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 129 shares during the period. Tompkins Financial Corp increased its holdings in shares of Lamar Advertising by 63.3% in the first 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. Cetera Investment Advisers increased its holdings in shares of Lamar Advertising by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 3,359 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 141 shares during the period. Blair William & Co. IL increased its holdings in shares of Lamar Advertising by 3.1% in the first quarter. Blair William & Co. IL now owns 5,043 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 150 shares during the period. Finally, GWM Advisors LLC increased its holdings in shares of Lamar Advertising by 3.4% in the first quarter. GWM Advisors LLC now owns 4,799 shares of the real estate investment trust’s stock worth $380,000 after purchasing an additional 159 shares during the period. 81.88% of the stock is currently owned by hedge funds and other institutional investors.
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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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