Keith A. Istre Sells 25,000 Shares of Lamar Advertising Co. (LAMR) Stock
Lamar Advertising Co. (NASDAQ:LAMR) CFO Keith A. Istre sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $61.04, for a total value of $1,526,000.00. Following the transaction, the chief financial officer now directly owns 151,199 shares in the company, valued at $9,229,186.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Lamar Advertising Co. (NASDAQ:LAMR) traded up 1.99% during midday trading on Wednesday, reaching $62.52. The company’s stock had a trading volume of 1,029,829 shares. The firm has a 50 day moving average price of $0.00 and a 200-day moving average price of $0.00. Lamar Advertising Co. has a 12-month low of $49.73 and a 12-month high of $69.35.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Lamar Advertising had a return on equity of 28.50% and a net margin of 20.06%. The firm had revenue of $387.50 million for the quarter, compared to the consensus estimate of $386.68 million. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts expect that Lamar Advertising Co. will post $3.07 earnings per share for the current fiscal year.
LAMR has been the topic of several research analyst reports. Gabelli cut Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a research note on Thursday, July 21st. Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Finally, Loop Capital initiated coverage on Lamar Advertising in a research report on Monday, September 12th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $65.75.
Several large investors have recently modified their holdings of the company. Creative Planning increased its stake in shares of Lamar Advertising by 1.0% in the third quarter. Creative Planning now owns 2,097 shares of the company’s stock valued at $137,000 after buying an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lamar Advertising by 14.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,499 shares of the company’s stock valued at $163,000 after buying an additional 307 shares during the last quarter. I.G. Investment Management LTD. acquired a new stake in shares of Lamar Advertising during the second quarter valued at $175,000. CIBC Asset Management Inc purchased a new position in Lamar Advertising during the second quarter valued at approximately $200,000. Finally, Zacks Investment Management purchased a new position in Lamar Advertising during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
Receive News & Stock Ratings for Lamar Advertising Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising Co. and related stocks with our FREE daily email newsletter.