Omnicom Group Inc. (OMC) Position Lowered by Westwood Holdings Group Inc.
Westwood Holdings Group Inc. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 24.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,387 shares of the business services provider’s stock after selling 17,161 shares during the period. Westwood Holdings Group Inc.’s holdings in Omnicom Group were worth $4,426,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new stake in shares of Omnicom Group during the second quarter valued at $104,000. Parallel Advisors LLC boosted its position in shares of Omnicom Group by 8.7% during the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after buying an additional 104 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Omnicom Group during the second quarter valued at $149,000. Invictus RG boosted its position in shares of Omnicom Group by 1,098.2% during the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after buying an additional 1,812 shares during the last quarter. Finally, FNY Partners Fund LP boosted its position in shares of Omnicom Group by 46.7% during the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after buying an additional 700 shares during the last quarter. 98.60% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the company. BidaskClub cut Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Omnicom Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Credit Suisse Group dropped their target price on Omnicom Group from $79.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a research report on Thursday, September 21st. Finally, Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.08.
In other news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares in the company, valued at $634,835.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
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Omnicom Group Inc. (OMC) traded up 1.05% on Friday, hitting $75.14. The stock had a trading volume of 1,637,316 shares. The stock has a market cap of $17.34 billion, a P/E ratio of 15.17 and a beta of 1.28. Omnicom Group Inc. has a 12 month low of $71.63 and a 12 month high of $89.66. The company’s 50 day moving average is $73.93 and its 200-day moving average is $79.97.
Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Analysts forecast that Omnicom Group Inc. will post $5.09 EPS for the current year.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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