Omnicom Group Inc. $OMC Holdings Cut by Sterling Capital Management LLC

Sterling Capital Management LLC cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 82.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,892 shares of the business services provider’s stock after selling 37,949 shares during the period. Sterling Capital Management LLC’s holdings in Omnicom Group were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OMC. BlackRock Inc. purchased a new position in shares of Omnicom Group in the 2nd quarter valued at approximately $2,082,476,000. Bank of New York Mellon Corp acquired a new position in shares of Omnicom Group in the second quarter valued at approximately $914,156,000. First Eagle Investment Management LLC increased its holdings in shares of Omnicom Group by 0.5% in the second quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock valued at $534,806,000 after purchasing an additional 40,096 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Omnicom Group by 3.0% in the second quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider’s stock valued at $353,380,000 after purchasing an additional 142,082 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Omnicom Group by 116.2% during the first quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock worth $214,451,000 after purchasing an additional 1,530,743 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by company insiders.

Omnicom Group Stock Performance

NYSE OMC opened at $77.67 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average is $80.07 and its two-hundred day moving average is $78.22. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 0.71 and a beta of 0.68.

Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.06. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.21 billion. Omnicom Group had a return on equity of 24.29% and a net margin of 2.85%. The company’s revenue for the quarter was up 59.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 EPS. Research analysts expect that Omnicom Group Inc. will post 10.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OMC. Barclays decreased their price target on Omnicom Group from $88.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday. Morgan Stanley boosted their price objective on shares of Omnicom Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Monday, September 14th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and an average price target of $100.67.

Omnicom Group Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.