Insider Selling: Keith A. Istre Unloads 26,665 Shares of Lamar Advertising Stock (LAMR)
Lamar Advertising (NASDAQ:LAMR) CFO Keith A. Istre unloaded 26,665 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.96, for a total transaction of $1,358,848.40. Following the sale, the chief financial officer now directly owns 90,967 shares of the company’s stock, valued at approximately $4,635,678. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Lamar Advertising (NASDAQ:LAMR) traded down 0.41% during mid-day trading on Tuesday, hitting $50.74. 726,928 shares of the company’s stock traded hands. Lamar Advertising has a 52-week low of $41.36 and a 52-week high of $54.48. The stock’s 50-day moving average is $51.89 and its 200-day moving average is $51.02. The company has a market cap of $4.834 billion and a P/E ratio of 128.99. Lamar Advertising also was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 9,370,059 shares, a decline of 17.9% from the July 15th total of 11,409,509 shares. Based on an average daily volume of 1,345,663 shares, the days-to-cover ratio is presently 7.0 days. Approximately 11.7% of the shares of the stock are sold short.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.23. The company had revenue of $330.40 million for the quarter, compared to the consensus estimate of $333.27 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that Lamar Advertising will post $1.01 earnings per share for the current fiscal year.
LAMR has been the subject of a number of recent research reports. Analysts at Topeka Capital Markets cut their price target on shares of Lamar Advertising from $65.00 to $62.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Analysts at Morgan Stanley downgraded shares of Lamar Advertising from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $56.92.
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment.
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