Curated Wealth Partners LLC Sells 19,319 Shares of Omnicom Group Inc. $OMC

Key Points

• Curated Wealth Partners cut its Omnicom Group stake by 82.6% in the third quarter, selling 19,319 shares and retaining 4,079 shares valued at approximately $300,000.
• Institutional investors own nearly 92% of Omnicom’s outstanding stock; several major firms, including BlackRock and Bank of New York Mellon, recently initiated positions.
• Omnicom shares opened at $80.58, while analysts maintain a consensus “Hold” rating and an average price target of $98.75. The company’s latest quarterly revenue rose 63.4% year over year, though EPS slightly missed estimates.

Curated Wealth Partners LLC lessened its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 82.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,079 shares of the business services provider's stock after selling 19,319 shares during the quarter. Curated Wealth Partners LLC's holdings in Omnicom Group were worth $300,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Omnicom Group in the second quarter valued at $2,082,476,000. Bank of New York Mellon Corp acquired a new stake in shares of Omnicom Group in the second quarter worth $914,156,000. Nykredit A S acquired a new stake in shares of Omnicom Group in the second quarter worth $126,937,000. Pacer Advisors Inc. boosted its position in shares of Omnicom Group by 116.2% in the first quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider's stock worth $214,451,000 after buying an additional 1,530,743 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of Omnicom Group during the second quarter valued at $105,402,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Down 0.2%

OMC opened at $80.58 on Friday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. The business has a 50-day moving average of $80.94 and a 200-day moving average of $78.31. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The company has a market capitalization of $22.11 billion, a PE ratio of 69.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The firm's quarterly revenue was up 63.4% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post 10.50 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Linda Rice sold 1,385 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director owned 11,719 shares in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Weiss Ratings raised Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. Barclays reduced their price objective on Omnicom Group from $90.00 to $88.00 and set an "equal weight" rating for the company in a research note on Friday, October 9th. Citigroup decreased their price objective on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, Zacks Research raised Omnicom Group from a "strong sell" rating to a "hold" rating in a research note on Monday, September 28th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.

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