Gibraltar Capital Management Inc. cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 41,092 shares of the company’s stock after selling 1,041 shares during the period. Omnicom Group comprises 4.1% of Gibraltar Capital Management Inc.’s holdings, making the stock its 14th largest position. Gibraltar Capital Management Inc.’s holdings in Omnicom Group were worth $3,349,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Omnicom Group during the first quarter valued at about $110,000. Trust Department MB Financial Bank N A boosted its stake in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock valued at $123,000 after buying an additional 100 shares during the last quarter. City Holding Co. boosted its stake in shares of Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock valued at $158,000 after buying an additional 922 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Omnicom Group by 8.6% in the second quarter. Signaturefd LLC now owns 2,211 shares of the company’s stock valued at $180,000 after buying an additional 176 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of Omnicom Group during the first quarter valued at about $218,000. Institutional investors and hedge funds own 97.02% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) traded down 0.538% during trading on Wednesday, hitting $80.435. The company had a trading volume of 2,769,232 shares. The company has a market cap of $19.03 billion, a PE ratio of 17.593 and a beta of 1.35. The company’s 50 day moving average price is $84.22 and its 200-day moving average price is $83.39. Omnicom Group Inc. has a 12 month low of $66.48 and a 12 month high of $87.50.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Omnicom Group Inc. will post $4.75 earnings per share for the current year.
Several brokerages have recently issued reports on OMC. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price objective on shares of Omnicom Group in a research note on Sunday, July 17th. Zacks Investment Research cut Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Pivotal Research raised their price target on Omnicom Group from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Monday. Albert Fried & Company restated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. Finally, Credit Suisse Group AG began coverage on Omnicom Group in a research note on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Omnicom Group presently has an average rating of “Hold” and a consensus price target of $83.86.
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total value of $69,669.20. Following the transaction, the director now owns 30,440 shares in the company, valued at approximately $2,573,702. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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