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 Lamar Advertising stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $156.92, for a total value of $1,192,592.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $162.62 on Thursday. The stock has a 50-day simple moving average of $150.44 and a 200 day simple moving average of $145.82. Lamar Advertising Company has a twelve month low of $122.31 and a twelve month high of $166.33. The stock has a market capitalization of $16.51 billion, a PE ratio of 18.63 and a beta of 1.23. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.59 and a current ratio of 0.59.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a $1.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $6.60 annualized dividend and a yield of 4.1%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.60. Lamar Advertising’s dividend payout ratio (DPR) is presently 116.40%.

Hedge Funds Weigh In On Lamar Advertising

A number of hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in Lamar Advertising during the third quarter worth $2,918,000. Private Wealth Asset Management LLC bought a new position in shares of Lamar Advertising during the third quarter valued at $414,000. Private Advisor Group LLC boosted its stake in shares of Lamar Advertising by 280.9% in the 3rd quarter. Private Advisor Group LLC now owns 14,306 shares of the real estate investment trust’s stock valued at $2,062,000 after purchasing an additional 10,550 shares in the last quarter. Focus Advisor Solutions LLC boosted its stake in shares of Lamar Advertising by 123.8% in the 3rd quarter. Focus Advisor Solutions LLC now owns 10,319 shares of the real estate investment trust’s stock valued at $1,487,000 after purchasing an additional 5,708 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Lamar Advertising in the 3rd quarter valued at $381,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley set a $170.00 price target on Lamar Advertising in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $160.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Cfra lowered shares of Lamar Advertising from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company upped their target price on shares of Lamar Advertising from $156.00 to $158.00 and gave the company an “equal weight” rating in a research note on Friday, November 6th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $159.14.

About Lamar Advertising

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.