Concurrent Investment Advisors LLC Purchases 281 Shares of Omnicom Group Inc. $OMC

Concurrent Investment Advisors LLC grew its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,684 shares of the business services provider’s stock after acquiring an additional 281 shares during the period. Concurrent Investment Advisors LLC’s holdings in Omnicom Group were worth $481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OMC. Zions Bancorporation National Association UT purchased a new stake in Omnicom Group in the first quarter worth $34,000. Ameritas Advisory Services LLC bought a new stake in shares of Omnicom Group during the 2nd quarter valued at $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group in the 1st quarter worth about $36,000. Golden State Wealth Management LLC increased its stake in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock worth $41,000 after acquiring an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Omnicom Group in the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

NYSE OMC opened at $77.48 on Friday. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The stock has a 50-day moving average of $77.40 and a 200 day moving average of $74.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.51 and a beta of 0.96.

Analysts Set New Price Targets

OMC has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Barclays cut Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and an average target price of $96.29.

Omnicom Group Profile

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.