11,785 Omnicom Group Inc. $OMC Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 222,107 shares of the business services provider’s stock after selling 11,785 shares during the period. Modera Wealth Management LLC’s holdings in Omnicom Group were worth $16,354,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OMC. Glenview Trust Co grew its holdings in shares of Omnicom Group by 21.4% during the 3rd quarter. Glenview Trust Co now owns 42,678 shares of the business services provider’s stock worth $3,142,000 after purchasing an additional 7,524 shares during the period. D.A. Davidson & CO. raised its holdings in Omnicom Group by 3.2% in the third quarter. D.A. Davidson & CO. now owns 12,040 shares of the business services provider’s stock valued at $887,000 after buying an additional 375 shares during the period. Great Lakes Retirement Inc. raised its holdings in Omnicom Group by 0.7% in the third quarter. Great Lakes Retirement Inc. now owns 20,675 shares of the business services provider’s stock valued at $1,539,000 after buying an additional 148 shares during the period. Latitude Advisors LLC acquired a new position in Omnicom Group during the third quarter valued at approximately $80,000. Finally, Oppenheimer & Co. Inc. lifted its position in Omnicom Group by 4.1% during the third quarter. Oppenheimer & Co. Inc. now owns 19,503 shares of the business services provider’s stock valued at $1,436,000 after buying an additional 777 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Up 0.4%

Shares of NYSE:OMC opened at $81.28 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The company has a 50 day moving average of $79.82 and a two-hundred day moving average of $78.24. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, October 22nd. The business services provider reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.06. Omnicom Group had a net margin of 2.85% and a return on equity of 24.67%. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the firm posted $2.24 earnings per share. The business’s quarterly revenue was up 59.1% on a year-over-year basis. As a group, analysts forecast that Omnicom Group Inc. will post 10.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday. Citigroup cut 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 note on Thursday, July 30th. Zacks Research upgraded shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Wells Fargo & Company upped their price target on shares of Omnicom Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Omnicom Group currently has a consensus rating of “Hold” and a consensus target price of $100.67.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the firm’s 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 completion of the sale, the director directly owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Omnicom Group Company 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.