Short Interest in Lamar Advertising (NASDAQ:LAMR) Expands By 24.0%

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in Lamar Advertising during the 3rd quarter worth about $25,000. Whittier Trust Co. boosted its position in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Lamar Advertising during the 3rd quarter worth about $26,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $30,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Lamar Advertising stock traded down $0.80 during midday trading on Friday, reaching $126.35. The company had a trading volume of 630,633 shares, compared to its average volume of 420,258. The company has a market capitalization of $12.93 billion, a P/E ratio of 25.27 and a beta of 1.52. Lamar Advertising has a 12-month low of $95.83 and a 12-month high of $139.88. The firm’s fifty day simple moving average is $132.11 and its 200-day simple moving average is $123.38. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same period last year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is presently 112.00%.

Analysts Set New Price Targets

LAMR has been the topic of several research reports. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. TD Cowen increased their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, 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, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $132.40.

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.