Sigma Planning Corp grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,421 shares of the business services provider’s stock after buying an additional 290 shares during the quarter. Sigma Planning Corp’s holdings in Omnicom Group were worth $503,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Gradient Investments LLC raised its position in Omnicom Group by 257.9% in the 3rd quarter. Gradient Investments LLC now owns 383 shares of the business services provider’s stock worth $30,000 after purchasing an additional 276 shares during the period. Ashburton Jersey Ltd purchased a new stake in Omnicom Group in the 2nd quarter worth about $31,000. Cornerstone Advisors Inc. raised its position in Omnicom Group by 117.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 408 shares of the business services provider’s stock worth $33,000 after purchasing an additional 220 shares during the period. Trustcore Financial Services LLC raised its position in Omnicom Group by 218.1% in the 2nd quarter. Trustcore Financial Services LLC now owns 404 shares of the business services provider’s stock worth $33,000 after purchasing an additional 277 shares during the period. Finally, Coastal Investment Advisors Inc. purchased a new stake in Omnicom Group in the 2nd quarter worth about $33,000.
OMC stock traded up $0.50 during mid-day trading on Friday, reaching $80.77. The company had a trading volume of 1,561,262 shares, compared to its average volume of 1,850,284. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.87 and a quick ratio of 0.77. The company has a market capitalization of $17.20 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.62 and a beta of 0.70. The firm has a 50 day moving average of $76.88 and a 200 day moving average of $78.94. Omnicom Group Inc. has a 12 month low of $68.58 and a 12 month high of $85.05.
A number of research firms recently weighed in on OMC. Citigroup reduced their price objective on shares of Omnicom Group from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Wells Fargo & Co began coverage on shares of Omnicom Group in a research report on Monday, September 23rd. They issued a “market perform” rating and a $81.00 price objective on the stock. Barclays set a $84.00 price objective on shares of Omnicom Group and gave the stock a “hold” rating in a research report on Friday, September 27th. ValuEngine lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Sunday, October 27th. Finally, BMO Capital Markets lowered shares of Omnicom Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $88.00 to $86.00 in a research report on Sunday, July 14th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $82.50.
In other Omnicom Group news, Director Linda Johnson Rice sold 463 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $77.14, for a total value of $35,715.82. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Andrew Castellaneta sold 3,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $75.78, for a total transaction of $227,340.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Omnicom Group Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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