Lamar Advertising (NASDAQ:LAMR) Stock: Insider Jay Lecoryelle Johnson Sells 7,600 Shares

Lamar Advertising Company (NASDAQ:LAMR) CFO Jay Johnson sold 7,600 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $156.92, for a total transaction of $1,192,592.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Lamar Advertising Trading Up 2.9%

Shares of NASDAQ:LAMR traded up $4.65 during mid-day trading on Tuesday, hitting $163.40. The company had a trading volume of 732,329 shares, compared to its average volume of 596,640. 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 one year low of $122.31 and a one year high of $166.33. The firm has a fifty day moving average price of $149.92 and a 200 day moving average price of $145.48. The company has a market capitalization of $16.59 billion, a PE ratio of 28.82 and a beta of 1.23.

Lamar Advertising Increases Dividend

The business also recently declared 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 was Monday, September 21st. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.60. This represents a $6.60 dividend on an annualized basis and a yield of 4.0%. Lamar Advertising’s dividend payout ratio is 116.40%.

Institutional Investors Weigh In On Lamar Advertising

A number of institutional investors and hedge funds have recently bought and sold shares of LAMR. Tidal Investments LLC grew its stake in shares of Lamar Advertising by 83.7% during the second quarter. Tidal Investments LLC now owns 17,536 shares of the real estate investment trust’s stock valued at $2,735,000 after buying an additional 7,992 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $889,000. Tucker Asset Management LLC bought a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $547,000. Fig Financial Advisory Services Inc. ADV purchased a new stake in Lamar Advertising during the 3rd quarter valued at about $1,648,000. Finally, Empowered Funds LLC boosted its holdings in Lamar Advertising by 11.2% during the 1st quarter. Empowered Funds LLC now owns 67,392 shares of the real estate investment trust’s stock valued at $8,536,000 after acquiring an additional 6,793 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.