Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lamar Advertising Company shares valued at $425,410 were sold by Johnson Jay LeCoryelle on Aug 15. At $106.35 per share, Johnson Jay LeCoryelle sold 4,000 shares. The insider’s holdings dropped to 26,000 shares worth approximately $2.33 million following the completion of this transaction.
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Also, REILLY ANNA sold 10,000 shares, netting a total of over 901,666 in proceeds. Following the sale of shares at $90.17 each, the insider now holds 145,928 shares.
Before that, Johnson Jay LeCoryelle had sold 1,424 shares from its account. In a trade valued at $154,996, the CFO, Treasurer, EVP traded Lamar Advertising Company shares for $108.85 each. Upon closing the transaction, the insider’s holdings decreased to 1,424 shares, worth approximately $2.69 million.
As published in a research note from Citigroup on July 07, 2022, Lamar Advertising Company [LAMR] has been rated up from a Neutral to a Buy and the price target has been revised to $108 from $112. This represents a 16.94% premium over Thursday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early June. As of March 29, 2022, Wolfe Research has initiated its “Peer perform” rating for LAMR. Earlier on November 02, 2020, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for LAMR stock which previously was a “an Equal-weight”.
Analyzing LAMR Stock Performance
On Thursday, Lamar Advertising Company [NASDAQ: LAMR] plunged -0.79% to $89.70. The stock’s lowest price that day was $87.82, but it reached a high of $90.725 in the same session. During the last five days, there has been a drop of approximately -2.61%. Over the course of the year, Lamar Advertising Company shares have dropped approximately -26.05%. Shares of the company reached a 52-week high of $124.32 on 01/04/22 and a 52-week low of $81.10 on 10/13/22. A 50-day SMA is recorded $90.09, while a 200-day SMA reached $100.18. Nevertheless, trading volume fell to 0.66 million shares from 0.53 million shares the previous day.
Support And Resistance Levels for Lamar Advertising Company (LAMR)
According to the 24-hour chart, there is a support level at 88.10, which, if violated, would cause prices to drop to 86.51. In the upper region, resistance lies at 91.01. The next price resistance is at 92.32. RSI (Relative Strength Index) is 50.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.04, which suggests the price will increase in the coming days. Percent R is at 53.64%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lamar Advertising Company subject to short interest?
Stocks of Lamar Advertising Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.2 million shares to 2.01 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.21 million shares. A decline of -9.95% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.15 of the overall float, the days-to-cover ratio (short ratio) decline to 3.15.
Which companies own the most shares of Lamar Advertising Company (LAMR)?
According to The Vanguard Group, Inc. filings, the company currently owns 12,689,343 shares, which is about 14.57% of the total LAMR shares outstanding. The investor’s shares have plunged by -280,110 from its previous 13-F filing of 12969453.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $603,920,179. Fidelity Management & Research Co reduced a -30.00% interest valued at $347.61 million while Janus Henderson Investors US LLC purchased a 84,943 stake. A total of 334,901 shares of Lamar Advertising Company were bought by Cohen & Steers Capital Management during the quarter, and 511,673 were bought by Victory Capital Management, Inc. In its current portfolio, SSgA Funds Management, Inc. holds 2,386,882 shares valued at $196.89 million.
In terms of Lamar Advertising Company share price expectations, FactSet research, analysts set an average price target of $110.67 in the next 12 months, up nearly 21.67% from the previous closing price of $90.41. Analysts anticipate Lamar Advertising Company stock to reach $114.00 by 2022, with the lowest price target being $108.00. In spite of this, 5 analysts ranked Lamar Advertising Company stock as a Hold at the end of 2022.