Ardmore Road Asset Management LP Buys 116,451 Shares of Omnicom Group Inc. $OMC

Key Points

• Ardmore Road Asset Management increased its Omnicom Group stake by 49.1%, purchasing 116,451 additional shares to own 353,400 shares valued at approximately $26.6 million. Institutional investors collectively own 91.97% of OMC.
• Omnicom reported quarterly earnings of $1.90 per share, exceeding estimates of $1.84, while revenue reached $6.24 billion and rose 69.2% year over year.
• The company declared a quarterly dividend of $0.80, equivalent to a 4.0% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $99.38.

Ardmore Road Asset Management LP lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 49.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 353,400 shares of the business services provider's stock after purchasing an additional 116,451 shares during the quarter. Omnicom Group accounts for 1.8% of Ardmore Road Asset Management LP's holdings, making the stock its 25th biggest holding. Ardmore Road Asset Management LP owned approximately 0.12% of Omnicom Group worth $26,615,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of OMC. Activest Wealth Management raised its position in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock valued at $25,000 after purchasing an additional 296 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Omnicom Group in the 4th quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group in the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID increased its stake in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG bought a new position in shares of Omnicom Group in the 4th quarter valued at $28,000. Institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Up 0.1%

Shares of NYSE OMC opened at $79.70 on Monday. The company has a 50 day simple moving average of $76.40 and a 200 day simple moving average of $76.76. The firm has a market cap of $22.72 billion, a PE ratio of 204.37, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm's revenue was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $1.70 EPS. On average, research analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 4.0%. Omnicom Group's dividend payout ratio is presently 820.51%.

Analysts Set New Price Targets

OMC has been the subject of several recent analyst reports. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price objective for the company. Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Omnicom Group in a research note on Friday, May 22nd. Citigroup dropped their target price on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Finally, The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price target on the stock. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $99.38.

About Omnicom Group

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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