Lamar Advertising Co (NASDAQ:LAMR) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 3,720,000 shares, a growth of 6.0% from the January 15th total of 3,510,000 shares. Based on an average daily trading volume, of 374,700 shares, the days-to-cover ratio is currently 9.9 days. Currently, 4.4% of the company’s shares are short sold.
NASDAQ LAMR opened at $95.64 on Friday. The firm has a market cap of $9.48 billion, a P/E ratio of 26.27 and a beta of 1.00. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.51 and a quick ratio of 0.51. The stock’s 50-day moving average is $91.93 and its 200-day moving average is $83.90. Lamar Advertising has a one year low of $74.38 and a one year high of $96.35.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAMR. Punch & Associates Investment Management Inc. grew its holdings in shares of Lamar Advertising by 0.8% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 64,982 shares of the real estate investment trust’s stock worth $5,800,000 after buying an additional 489 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Lamar Advertising during the fourth quarter worth about $1,288,000. Cubist Systematic Strategies LLC bought a new position in shares of Lamar Advertising during the fourth quarter worth about $2,094,000. AQR Capital Management LLC grew its holdings in shares of Lamar Advertising by 41.9% during the fourth quarter. AQR Capital Management LLC now owns 89,543 shares of the real estate investment trust’s stock worth $7,993,000 after buying an additional 26,455 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Lamar Advertising in the fourth quarter valued at approximately $605,000. 79.44% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. ValuEngine lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. BidaskClub lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley raised their price target on Lamar Advertising from $84.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Finally, Imperial Capital raised their price target on Lamar Advertising from $86.00 to $91.00 and gave the stock an “in-line” rating in a research report on Thursday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Lamar Advertising has an average rating of “Hold” and an average price target of $88.00.
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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