Omnicom Group Inc. $OMC Shares Sold by Profund Advisors LLC

Profund Advisors LLC lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 42.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,466 shares of the business services provider’s stock after selling 7,688 shares during the quarter. Profund Advisors LLC’s holdings in Omnicom Group were worth $771,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Omnicom Group during the second quarter worth $2,082,476,000. Bank of New York Mellon Corp acquired a new position in Omnicom Group in the second quarter valued at $914,156,000. First Eagle Investment Management LLC lifted its position in Omnicom Group by 0.5% during the second quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock worth $534,806,000 after buying an additional 40,096 shares during the period. Baird Financial Group Inc. lifted its position in Omnicom Group by 3.0% during the second quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider’s stock worth $353,380,000 after buying an additional 142,082 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Omnicom Group by 116.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock worth $214,451,000 after buying an additional 1,530,743 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. 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 report on Friday, October 23rd. Citigroup decreased their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Monday, September 14th. Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Finally, JPMorgan Chase & Co. cut 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. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.67.

Omnicom Group Price Performance

OMC opened at $87.61 on Thursday. The company has a fifty day simple moving average of $79.61 and a 200 day simple moving average of $78.32. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 0.77 and a beta of 0.72. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91.

Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, beating 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 company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the firm earned $2.24 earnings per share. The company’s revenue was up 59.1% on a year-over-year basis. Equities research analysts expect that Omnicom Group Inc. will post 10.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the 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 in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Omnicom Group Profile

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.