Insider Buying: Lamar Advertising Co (NASDAQ:LAMR) Director Acquires 17,000 Shares of Stock

Lamar Advertising Co (NASDAQ:LAMR) Director John E. Koerner III purchased 17,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $66.32 per share, for a total transaction of $1,127,440.00.

Shares of NASDAQ LAMR traded up $1.02 during trading on Tuesday, hitting $66.32. The stock had a trading volume of 866,808 shares, compared to its average volume of 951,707. The firm has a fifty day moving average of $52.41 and a two-hundred day moving average of $75.92. The company has a market capitalization of $5.96 billion, a PE ratio of 18.49 and a beta of 1.35. The company has a debt-to-equity ratio of 3.91, a current ratio of 1.46 and a quick ratio of 1.46. Lamar Advertising Co has a 12 month low of $30.89 and a 12 month high of $96.82.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $406.57 million for the quarter, compared to analysts’ expectations of $396.04 million. Lamar Advertising had a net margin of 20.35% and a return on equity of 31.25%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, equities analysts expect that Lamar Advertising Co will post 4.91 earnings per share for the current fiscal year.

Several brokerages recently commented on LAMR. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine lowered shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. MKM Partners reduced their price target on shares of Lamar Advertising from $92.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, April 13th. JPMorgan Chase & Co. cut their price objective on shares of Lamar Advertising from $74.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Finally, Morgan Stanley raised their target price on Lamar Advertising from $92.00 to $94.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.40.

Several hedge funds and other institutional investors have recently made changes to their positions in LAMR. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $26,000. Flagship Harbor Advisors LLC boosted its holdings in shares of Lamar Advertising by 80.8% in the 1st quarter. Flagship Harbor Advisors LLC now owns 631 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 282 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $38,000. Capital Bank & Trust Co bought a new position in Lamar Advertising during the fourth quarter worth about $39,000. Finally, Heritage Wealth Advisors bought a new position in Lamar Advertising in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 80.85% of the company’s stock.

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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