Lamar Advertising Target of Unusually High Options Trading (LAMR)

Lamar Advertising (NASDAQ:LAMR) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 4,360 call options on the stock. This is an increase of approximately 2,992% compared to the average daily volume of 141 call options.

Shares of Lamar Advertising (NASDAQ:LAMR) opened at $73.89 on Monday. Lamar Advertising has a 12-month low of $62.45 and a 12-month high of $79.17. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $6,200.00, a price-to-earnings ratio of 23.38, a PEG ratio of 5.08 and a beta of 1.15.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $399.30 million for the quarter, compared to analyst estimates of $392.10 million. During the same quarter last year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. research analysts anticipate that Lamar Advertising will post 4.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Friday, December 15th. Lamar Advertising’s dividend payout ratio (DPR) is presently 105.06%.

In other news, Director Stephen P. Mumblow sold 4,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the transaction, the director now owns 11,031 shares of the company’s stock, valued at $864,058.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new stake in Lamar Advertising in the second quarter worth $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 worth $176,805,000 after purchasing an additional 1,077,170 shares during the period. 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 worth $559,646,000 after purchasing an additional 528,392 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Lamar Advertising in the second quarter worth $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 worth $28,825,000 after purchasing an additional 280,388 shares during the period. Institutional investors own 84.35% of the company’s stock.

Several research firms have recently issued reports on LAMR. BidaskClub raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Citigroup downgraded shares of 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, December 20th. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Morgan Stanley decreased their price objective on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price 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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