Sterling Capital Management LLC Sells 37,949 Shares of Omnicom Group Inc. $OMC

Key Points

• Sterling Capital Management cut its Omnicom Group stake by 82.8% in the third quarter, selling 37,949 shares and retaining 7,892 shares valued at approximately $581,000.
• Omnicom reported quarterly EPS of $2.73, beating estimates by $0.06, while revenue reached $6.42 billion—up 59.1% year over year and above analyst expectations.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $100.67; institutional investors own nearly 92% of the company’s stock.

Sterling Capital Management LLC lowered its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 82.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,892 shares of the business services provider's stock after selling 37,949 shares during the quarter. Sterling Capital Management LLC's holdings in Omnicom Group were worth $581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Old North State Wealth Management LLC lifted its holdings in Omnicom Group by 2.9% during the 3rd quarter. Old North State Wealth Management LLC now owns 32,581 shares of the business services provider's stock worth $2,401,000 after buying an additional 911 shares during the last quarter. Brookstone Capital Management boosted its position in shares of Omnicom Group by 1.8% during the 3rd quarter. Brookstone Capital Management now owns 9,511 shares of the business services provider's stock worth $700,000 after acquiring an additional 165 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Omnicom Group in the 3rd quarter valued at about $113,000. E. Ohman J or Asset Management AB increased its holdings in shares of Omnicom Group by 21.8% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 7,531 shares of the business services provider's stock valued at $555,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of Omnicom Group during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the firm's 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 directly owned 11,719 shares of the company's stock, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Omnicom Group Price Performance

OMC stock opened at $77.67 on Thursday. The company has a market capitalization of $21.31 billion, a P/E ratio of 43.39, a PEG ratio of 0.71 and a beta of 0.68. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57. The business has a 50 day simple moving average of $80.07 and a 200-day simple moving average of $78.22. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Thursday, October 22nd. The business services provider reported $2.73 EPS for the quarter, beating analysts' consensus estimates of $2.67 by $0.06. Omnicom Group had a net margin of 2.85% and a return on equity of 24.29%. The business had revenue of $6.42 billion for the quarter, compared to analysts' expectations of $6.21 billion. During the same period in the previous year, the company posted $2.24 EPS. The company's quarterly revenue was up 59.1% on a year-over-year basis. As a group, equities analysts anticipate that Omnicom Group Inc. will post 10.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OMC shares. Argus upgraded Omnicom Group to a "hold" rating in a research note on Monday, September 14th. Wells Fargo & Company upped their price target on Omnicom Group from $93.00 to $97.00 and gave the company an "overweight" rating in a report on Friday, October 23rd. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $115.00 to $111.00 and set an "overweight" rating on the stock in a research note on Friday, October 23rd. Weiss Ratings raised shares of Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Finally, Morgan Stanley boosted their price objective on shares of Omnicom Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Omnicom Group currently has an average rating of "Hold" and an average price target of $100.67.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.

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