Lamar Advertising Company (LAMR) : Traders are getting increasingly bearish on Lamar Advertising Company (LAMR), as can be seen in the addition of short positions from 4,909,410 on Jul 29, 2016, to 5,455,037 on August 15, 2016. The net change in shorts is 545,627 shares, an increase of 11.1%. 9 days remain before the expiry. The 6.7% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 633,313. The short interest information was released on Wednesday Aug 24th after the market close.
Lamar Advertising Company (NASDAQ:LAMR): The stock opened at $62.72 on Wednesday but the bulls could not build on the opening and the stock topped out at $63.05 for the day. The stock traded down to $62.45 during the day, due to lack of any buying support eventually closed down at $62.83 with a loss of -0.16% for the day. The stock had closed at $62.93 on the previous day. The total traded volume was 728,100 shares.
In a related news, Mumblow Stephen P, director of Lamar Advertising Co/New, unloaded 10,000 shares at an average price of $63.5 on June 16, 2016. The total amount of the transaction was worth $635,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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. As of December 31, 2012, the Company owned and operated over 144,000 billboard advertising displays in 44 states, Canada and Puerto Rico, over 115,000 logo advertising displays in 22 states and the province of Ontario, Canada, and operated over 34,000 transit advertising displays in 15 states, Canada and Puerto Rico. In August 2014, the Company acquired the assets of Marco Outdoor Advertising, Inc.