Omnicom Group Inc. $OMC Stock Bought by 180 Wealth Advisors LLC

Key Points

• 180 Wealth Advisors increased its Omnicom stake by 136.3% in the third quarter, ending the period with 35,270 shares worth about $2.6 million. Institutional investors collectively own 91.97% of the stock.
• Analysts have a consensus “Hold” rating and an average price target of $100.67; five rate the stock Buy, six Hold, and one Sell.
• Omnicom beat quarterly earnings and revenue estimates, reporting $2.73 in EPS and $6.42 billion in revenue. Revenue rose 59.1% year over year.

180 Wealth Advisors LLC grew its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 136.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,270 shares of the business services provider's stock after purchasing an additional 20,345 shares during the period. 180 Wealth Advisors LLC's holdings in Omnicom Group were worth $2,597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orca Investment Management LLC acquired a new position in shares of Omnicom Group during the second quarter worth approximately $2,023,000. Oppenheimer Asset Management Inc. bought a new position in Omnicom Group in the 2nd quarter worth approximately $9,146,000. Polianta Ltd acquired a new stake in Omnicom Group in the 2nd quarter valued at approximately $1,762,000. NewEdge Advisors LLC increased its position in Omnicom Group by 27.8% in the 1st quarter. NewEdge Advisors LLC now owns 57,040 shares of the business services provider's stock valued at $4,296,000 after acquiring an additional 12,425 shares during the period. Finally, Nykredit A S bought a new stake in Omnicom Group during the 2nd quarter valued at $92,660,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Omnicom Group in a research note on Wednesday, October 28th. Wells Fargo & Company lifted their price target on Omnicom Group from $93.00 to $97.00 and gave the company an "overweight" rating in a research report on Friday, October 23rd. Morgan Stanley lifted their price target on Omnicom Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a research report on Friday, October 23rd. Barclays dropped their price objective on Omnicom Group from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, October 26th. Finally, Argus upgraded Omnicom Group to a "hold" rating in a report on Monday, September 14th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of "Hold" and a consensus target price of $100.67.

Insider Activity

In other news, Director Linda Rice sold 1,385 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, 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 at this link. 1.20% of the stock is owned by insiders.

Omnicom Group Price Performance

NYSE OMC opened at $86.25 on Friday. The stock has a market capitalization of $23.53 billion, a P/E ratio of 48.18, a P/E/G ratio of 0.80 and a beta of 0.72. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.57. The business's fifty day moving average is $79.57 and its two-hundred day moving average is $78.40. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.06. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company posted $2.24 EPS. The company's revenue was up 59.1% compared to the same quarter last year. On average, research analysts forecast that Omnicom Group Inc. will post 10.37 earnings per share for the current fiscal year.

About Omnicom Group

Omnicom Group is a global marketing and communications company that provides advertising, media planning and buying, public relations, branding, and customer relationship management services. Its agencies also work in areas such as healthcare communications, digital marketing, and data-driven marketing.

The company was formed in 1986 through the combination of advertising agencies BBDO, Doyle Dane Bernbach, and Needham Harper Worldwide. Omnicom operates through a network of agencies and serves clients across major markets around the world.

Omnicom is headquartered in New York.

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