Eqis Capital Management Inc. Reduces Position in Omnicom Group Inc. (NYSE:OMC)

Eqis Capital Management Inc. cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 39.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,715 shares of the business services provider’s stock after selling 1,800 shares during the quarter. Eqis Capital Management Inc.’s holdings in Omnicom Group were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in OMC. Gradient Investments LLC grew its holdings in shares of Omnicom Group by 257.9% during 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 during the last quarter. Ashburton Jersey Ltd purchased a new stake in Omnicom Group in the second quarter valued at $31,000. Cornerstone Advisors Inc. boosted its holdings in 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 purchasing an additional 220 shares during the last quarter. Trustcore Financial Services LLC boosted its holdings in 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 purchasing an additional 277 shares during the last quarter. Finally, Coastal Investment Advisors Inc. purchased a new stake in Omnicom Group in the second quarter valued at $33,000.

Several equities research analysts have commented on OMC shares. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating and set a $82.00 price target on the stock in a report on Monday, October 14th. Wells Fargo & Co started coverage on shares of Omnicom Group in a report on Monday, September 23rd. They issued a “market perform” rating and a $81.00 price target on the stock. Citigroup lowered their price target on shares of Omnicom Group from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. ValuEngine lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Sunday, October 27th. Finally, Barclays set a $84.00 price target on shares of Omnicom Group and gave the company a “hold” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $82.50.

In other Omnicom Group news, CAO Andrew Castellaneta sold 3,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Johnson Rice sold 463 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $77.14, for a total transaction of $35,715.82. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Shares of Omnicom Group stock opened at $78.24 on Tuesday. The firm has a 50-day simple moving average of $77.10 and a two-hundred day simple moving average of $78.86. The company has a market cap of $17.11 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 2.61 and a beta of 0.70. Omnicom Group Inc. has a fifty-two week low of $68.58 and a fifty-two week high of $85.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.77 and a current ratio of 0.87.

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

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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