NEXT Financial Group Inc Lowers Position in Omnicom Group Inc. (NYSE:OMC)

NEXT Financial Group Inc cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 19.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,207 shares of the business services provider’s stock after selling 4,453 shares during the period. NEXT Financial Group Inc’s holdings in Omnicom Group were worth $1,437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gradient Investments LLC grew its stake in shares of Omnicom Group by 257.9% in the third quarter. Gradient Investments LLC now owns 383 shares of the business services provider’s stock valued at $30,000 after buying an additional 276 shares in the last quarter. Ashburton Jersey Ltd bought a new position in shares of Omnicom Group in the second quarter valued at $31,000. Cornerstone Advisors Inc. grew its stake in shares of Omnicom Group by 117.0% in the second quarter. Cornerstone Advisors Inc. now owns 408 shares of the business services provider’s stock valued at $33,000 after buying an additional 220 shares in the last quarter. Trustcore Financial Services LLC grew its stake in shares of Omnicom Group by 218.1% in the second quarter. Trustcore Financial Services LLC now owns 404 shares of the business services provider’s stock valued at $33,000 after buying an additional 277 shares in the last quarter. Finally, Coastal Investment Advisors Inc. bought a new position in shares of Omnicom Group in the second quarter valued at $33,000.

Shares of Omnicom Group stock traded up $0.50 during trading on Friday, reaching $80.77. The company’s stock had a trading volume of 1,561,262 shares, compared to its average volume of 1,850,284. The business’s 50-day moving average price is $76.88 and its 200-day moving average price is $78.94. The firm has a market cap of $17.20 billion, a PE ratio of 14.05, a P/E/G ratio of 2.62 and a beta of 0.70. Omnicom Group Inc. has a 52 week low of $68.58 and a 52 week high of $85.05. The company has a quick ratio of 0.77, a current ratio of 0.87 and a debt-to-equity ratio of 1.94.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.01. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Omnicom Group had a net margin of 8.88% and a return on equity of 44.02%. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 earnings per share. Equities analysts predict that Omnicom Group Inc. will post 6.02 earnings per share for the current year.

OMC has been the subject of several analyst reports. Wells Fargo & Co began coverage on shares of Omnicom Group in a research note on Monday, September 23rd. They issued a “market perform” rating and a $81.00 target price for the company. ValuEngine cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Sunday, October 27th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a research report on Monday, October 14th. Citigroup reduced their price objective on shares of Omnicom Group from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Finally, BMO Capital Markets cut 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 given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $82.50.

In related news, Director Linda Johnson Rice sold 463 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $77.14, for a total value of $35,715.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrew Castellaneta sold 3,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $75.78, for a total value of $227,340.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Omnicom Group Company 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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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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