Lamar Advertising (NASDAQ:LAMR) Sees Large Growth in Short Interest

Lamar Advertising (NASDAQ:LAMR - Get Free Report) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,580,000 shares, a growth of 24.0% from the October 15th total of 2,080,000 shares. Based on an average daily volume of 384,600 shares, the short-interest ratio is presently 6.7 days.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LAMR shares. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday. TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $132.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Foundations Investment Advisors LLC grew its position in Lamar Advertising by 2.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust's stock valued at $500,000 after purchasing an additional 80 shares during the period. Private Advisor Group LLC lifted its stake in shares of Lamar Advertising by 0.7% in the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust's stock valued at $1,576,000 after buying an additional 82 shares in the last quarter. Jamison Private Wealth Management Inc. grew its holdings in shares of Lamar Advertising by 6.6% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust's stock valued at $180,000 after buying an additional 84 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Lamar Advertising by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock worth $341,000 after acquiring an additional 85 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Lamar Advertising by 1.0% in the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust's stock worth $1,329,000 after acquiring an additional 97 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Trading Down 0.6 %

Shares of NASDAQ LAMR traded down $0.80 during trading on Friday, reaching $126.35. The company had a trading volume of 621,240 shares, compared to its average volume of 408,911. The stock has a market cap of $12.93 billion, a P/E ratio of 25.26 and a beta of 1.52. The company's fifty day moving average price is $132.03 and its 200-day moving average price is $123.25. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12 month low of $95.83 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 earnings per share. As a group, research analysts expect that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Wednesday, September 18th. This is an increase from Lamar Advertising's previous quarterly dividend of $1.30. Lamar Advertising's payout ratio is presently 112.00%.

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.