Mirabella Financial Services LLP Sells 73,015 Shares of Omnicom Group Inc. (NYSE:OMC)

Mirabella Financial Services LLP reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 61.2% in the third quarter, Holdings Channel reports. The fund owned 46,386 shares of the business services provider’s stock after selling 73,015 shares during the quarter. Mirabella Financial Services LLP’s holdings in Omnicom Group were worth $4,763,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Omnicom Group during the 2nd quarter worth $56,177,000. Boston Partners increased its holdings in Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after acquiring an additional 383,560 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares during the period. Finally, Conning Inc. purchased a new stake in Omnicom Group during the second quarter valued at about $32,484,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $102.38 on Monday. Omnicom Group Inc. has a 12-month low of $78.90 and a 12-month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The company has a market cap of $19.98 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. The stock has a 50-day moving average price of $102.25 and a 200-day moving average price of $96.79.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, equities analysts forecast that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

OMC has been the subject of several recent research reports. Wells Fargo & Company downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Bank of America boosted their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. UBS Group raised 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. Macquarie lifted their price target on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price objective on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price 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.