Omnicom Group Inc. (NYSE:OMC) Short Interest Update

Omnicom Group Inc. (NYSE:OMC) was the recipient of a significant decline in short interest in March. As of March 13th, there was short interest totaling 40,589,387 shares, a decline of 13.1% from the February 26th total of 46,725,132 shares. Based on an average daily trading volume, of 4,595,588 shares, the days-to-cover ratio is presently 8.8 days. Approximately 13.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Omnicom Group

A number of institutional investors have recently made changes to their positions in the stock. Activest Wealth Management boosted its stake in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Omnicom Group in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC boosted its stake in shares of Omnicom Group by 2,126.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID grew its holdings in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OMC has been the subject of several research analyst reports. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Barclays boosted their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Morgan Stanley began coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. Citigroup raised their price objective on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.86.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $75.39 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $77.02 and its 200 day moving average price is $76.93. Omnicom Group has a 52 week low of $66.33 and a 52 week high of $87.17. The stock has a market cap of $21.48 billion, a price-to-earnings ratio of 153.85, a PEG ratio of 0.62 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). The business had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period last year, the company earned $2.41 EPS. As a group, research analysts forecast that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s payout ratio is currently 653.06%.

Omnicom Group announced that its board has initiated a share repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.