Lamar Advertising (NASDAQ:LAMR) Short Interest Update

Lamar Advertising (NASDAQ:LAMR) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,090,000 shares, a drop of 11.1% from the March 15th total of 2,350,000 shares. Based on an average trading volume of 418,800 shares, the days-to-cover ratio is presently 5.0 days.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. boosted their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th.

Lamar Advertising Stock Performance

LAMR opened at $111.20 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm’s fifty day simple moving average is $113.05 and its two-hundred day simple moving average is $102.79. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 22.93 and a beta of 1.50. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $121.99.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). The firm had revenue of $555.91 million during the quarter, compared to analysts’ expectations of $549.84 million. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. During the same period in the prior year, the company posted $1.91 EPS. Equities analysts anticipate that Lamar Advertising will post 7.54 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.68%. Lamar Advertising’s dividend payout ratio is 107.22%.

Insider Transactions at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of Lamar Advertising by 106.4% during the first quarter. American Century Companies Inc. now owns 17,290 shares of the real estate investment trust’s stock worth $2,009,000 after purchasing an additional 8,912 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Lamar Advertising by 25.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,607 shares of the real estate investment trust’s stock worth $651,000 after buying an additional 1,146 shares during the last quarter. Citigroup Inc. raised its stake in Lamar Advertising by 23.6% during the first quarter. Citigroup Inc. now owns 42,320 shares of the real estate investment trust’s stock worth $4,916,000 after purchasing an additional 8,070 shares during the period. Great West Life Assurance Co. Can increased its position in Lamar Advertising by 10.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 51,280 shares of the real estate investment trust’s stock worth $6,130,000 after purchasing an additional 5,052 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in Lamar Advertising by 11.4% in the 1st quarter. Cibc World Market Inc. now owns 2,006 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 206 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.