Olstein Capital Management L.P. Has $7.45 Million Stake in Omnicom Group Inc. (OMC)
Olstein Capital Management L.P. grew its stake in Omnicom Group Inc. (NYSE:OMC) by 108.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,300 shares of the business services provider’s stock after purchasing an additional 53,300 shares during the period. Olstein Capital Management L.P.’s holdings in Omnicom Group were worth $7,451,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new stake in shares of Omnicom Group in the 4th quarter valued at approximately $104,000. Eagle Ridge Investment Management bought a new stake in shares of Omnicom Group in the 3rd quarter valued at approximately $201,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Omnicom Group in the 3rd quarter valued at approximately $205,000. Cable Hill Partners LLC lifted its stake in shares of Omnicom Group by 3,527.5% in the 3rd quarter. Cable Hill Partners LLC now owns 2,902 shares of the business services provider’s stock valued at $215,000 after purchasing an additional 2,822 shares during the last quarter. Finally, Oak Point Wealth Management bought a new stake in shares of Omnicom Group during the 4th quarter worth approximately $219,000. 98.62% of the stock is owned by institutional investors and hedge funds.
OMC has been the subject of a number of research analyst reports. Credit Suisse Group raised their price target on Omnicom Group from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Telsey Advisory Group raised Omnicom Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $86.00 to $89.00 in a research note on Wednesday, October 18th. TheStreet lowered Omnicom Group from a “b-” rating to a “c+” rating in a research note on Tuesday, November 21st. Morgan Stanley raised their price target on Omnicom Group from $72.00 to $76.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Co reissued a “market perform” rating and set a $75.00 price target (down from $81.00) on shares of Omnicom Group in a research note on Thursday, January 18th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $83.64.
Omnicom Group Inc. (NYSE OMC) opened at $79.56 on Wednesday. The company has a market capitalization of $18,161.37, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 2.56 and a beta of 1.20. Omnicom Group Inc. has a fifty-two week low of $65.32 and a fifty-two week high of $86.71. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 1.62.
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Omnicom Group Company Profile
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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