Avestar Capital LLC Purchases New Position in Omnicom Group Inc. (NYSE:OMC)

Avestar Capital LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) in the third quarter, HoldingsChannel reports. The fund purchased 2,169 shares of the business services provider’s stock, valued at approximately $224,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Trust Walden Corp lifted its holdings in shares of Omnicom Group by 8.2% in the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after acquiring an additional 14,153 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Omnicom Group by 16.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 401 shares during the last quarter. SG Americas Securities LLC lifted its stake in Omnicom Group by 37.0% in the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock worth $5,784,000 after purchasing an additional 17,414 shares during the last quarter. Cetera Investment Advisers lifted its stake in Omnicom Group by 197.4% in the first quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock worth $12,338,000 after purchasing an additional 84,632 shares during the last quarter. Finally, Swedbank AB bought a new stake in Omnicom Group in the first quarter worth about $6,223,000. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Macquarie raised their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays lifted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. Finally, Bank of America lifted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Price Performance

NYSE OMC opened at $104.35 on Friday. The firm has a market capitalization of $20.36 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.35 and a beta of 0.95. The firm’s fifty day simple moving average is $102.42 and its two-hundred day simple moving average is $97.01. Omnicom Group Inc. has a 12-month low of $78.90 and a 12-month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.