Lamar Advertising Sees Unusually Large Options Volume (LAMR)
Lamar Advertising (NASDAQ:LAMR) saw some unusual options trading on Wednesday. Stock investors acquired 4,360 call options on the company. This represents an increase of approximately 2,992% compared to the typical volume of 141 call options.
Lamar Advertising (NASDAQ:LAMR) opened at $73.89 on Friday. Lamar Advertising has a twelve month low of $62.45 and a twelve month high of $79.17. The firm has a market capitalization of $7,328.19, a price-to-earnings ratio of 23.46, a P/E/G ratio of 5.13 and a beta of 1.16. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The business had revenue of $399.30 million for the quarter, compared to analyst estimates of $392.10 million. During the same period in the prior year, the company earned $0.87 EPS. The company’s revenue was up 3.0% on a year-over-year basis. analysts expect that Lamar Advertising will post 4.84 EPS for the current fiscal year.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total value of $313,320.00. Following the completion of the sale, the director now owns 11,031 shares in the company, valued at $864,058.23. The sale was disclosed in a document filed with the SEC, which is available through this link. 14.70% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new stake in Lamar Advertising in the second quarter valued at $598,020,000. Victory Capital Management Inc. grew its holdings in Lamar Advertising by 81.2% in the second quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock valued at $176,805,000 after purchasing an additional 1,077,170 shares during the last quarter. BlackRock Inc. grew its holdings in Lamar Advertising by 7.5% in the second quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock valued at $559,646,000 after purchasing an additional 528,392 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Lamar Advertising in the second quarter valued at $33,402,000. Finally, Renaissance Technologies LLC grew its holdings in Lamar Advertising by 251.7% in the second quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock valued at $28,825,000 after purchasing an additional 280,388 shares during the last quarter. 84.35% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on LAMR. BidaskClub cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Citigroup cut Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price target for the company. in a research note on Wednesday. Finally, Morgan Stanley cut their price target on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $73.40.
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Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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