Omnicom Group Inc. (NYSE:OMC) Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,835 shares of the business services provider’s stock after selling 419 shares during the period. Studio Investment Management LLC’s holdings in Omnicom Group were worth $816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Quent Capital LLC grew its stake in Omnicom Group by 89.1% during the 1st quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock worth $67,000 after buying an additional 326 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of Omnicom Group by 12.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 3,166 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 359 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of Omnicom Group in the 1st quarter valued at $361,000. EP Wealth Advisors LLC raised its position in Omnicom Group by 5.8% in the 1st quarter. EP Wealth Advisors LLC now owns 4,935 shares of the business services provider’s stock valued at $478,000 after purchasing an additional 269 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in Omnicom Group during the 1st quarter worth $274,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $102.06 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 52-week low of $78.75 and a 52-week high of $107.00. The company has a 50-day simple moving average of $102.20 and a 200-day simple moving average of $96.70. The company has a market capitalization of $19.91 billion, a PE ratio of 13.94, a P/E/G ratio of 2.20 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The company 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 period last year, the firm earned $1.86 EPS. Equities research analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This represents 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 through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of research reports. Macquarie upped their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group increased their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

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.