HBW Advisory Services LLC Sells 8,661 Shares of Omnicom Group Inc. $OMC

HBW Advisory Services LLC cut its stake in Omnicom Group Inc. (NYSE:OMC) by 24.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,411 shares of the business services provider’s stock after selling 8,661 shares during the period. HBW Advisory Services LLC’s holdings in Omnicom Group were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Orca Investment Management LLC purchased a new position in shares of Omnicom Group during the 2nd quarter worth $2,023,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Omnicom Group in the second quarter valued at about $9,146,000. Polianta Ltd purchased a new stake in shares of Omnicom Group in the second quarter valued at about $1,762,000. NewEdge Advisors LLC grew its holdings in shares of Omnicom Group by 27.8% in the first quarter. NewEdge Advisors LLC now owns 57,040 shares of the business services provider’s stock valued at $4,296,000 after purchasing an additional 12,425 shares during the period. Finally, Nykredit A S acquired a new stake in Omnicom Group during the second quarter worth about $92,660,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

NYSE:OMC opened at $78.30 on Thursday. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. The stock’s fifty day moving average is $81.07 and its two-hundred day moving average is $78.25. The company has a market capitalization of $21.48 billion, a P/E ratio of 8.37, a P/E/G ratio of 0.66 and a beta of 0.68. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. Equities analysts expect that Omnicom Group Inc. will post 10.50 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of brokerages have commented on OMC. Wells Fargo & Company lifted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Zacks Research upgraded shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Argus raised shares of Omnicom Group to a “hold” rating in a research note on Monday, September 14th. Citigroup cut their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $98.75.

Omnicom Group Company Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom’s services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.