Lamar Advertising (NASDAQ:LAMR) CFO Sells $1,192,592.00 in Stock

Lamar Advertising Company (NASDAQ:LAMR) CFO Jay Johnson sold 7,600 shares of Lamar Advertising stock in a transaction on Monday, November 9th. The shares were sold at an average price of $156.92, for a total value of $1,192,592.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lamar Advertising Price Performance

LAMR traded up $4.65 on Tuesday, hitting $163.40. 732,329 shares of the stock were exchanged, compared to its average volume of 596,640. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of 28.82 and a beta of 1.23. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.63 and a quick ratio of 0.63. Lamar Advertising Company has a 12 month low of $122.31 and a 12 month high of $166.33. The business has a 50-day moving average of $149.92 and a two-hundred day moving average of $145.48.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a $1.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $6.60 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.60. Lamar Advertising’s dividend payout ratio (DPR) is 116.40%.

Analysts Set New Price Targets

Several analysts recently weighed in on LAMR shares. JPMorgan Chase & Co. upped their price objective on Lamar Advertising from $160.00 to $161.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company boosted their target price on Lamar Advertising from $156.00 to $158.00 and gave the stock an “equal weight” rating in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Finally, Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $161.50.

Institutional Investors Weigh In On Lamar Advertising

Hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP raised its position in shares of Lamar Advertising by 49.7% in the 1st quarter. Quantinno Capital Management LP now owns 677,202 shares of the real estate investment trust’s stock worth $85,774,000 after acquiring an additional 224,775 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Lamar Advertising during the 2nd quarter valued at about $26,469,000. Public Employees Retirement System of Ohio bought a new stake in shares of Lamar Advertising during the 2nd quarter valued at about $20,052,000. Adelante Capital Management LLC acquired a new stake in Lamar Advertising during the second quarter worth approximately $19,122,000. Finally, Renaissance Technologies LLC acquired a new stake in Lamar Advertising during the first quarter worth approximately $12,440,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Company Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.