Columbus Macro LLC Decreases Position in Omnicom Group Inc. (NYSE:OMC)

Columbus Macro LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 3.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,659 shares of the business services provider’s stock after selling 588 shares during the quarter. Columbus Macro LLC’s holdings in Omnicom Group were worth $1,617,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Davis Capital Management acquired a new position in shares of Omnicom Group in the 3rd quarter valued at $36,000. Innealta Capital LLC purchased a new position in shares of Omnicom Group during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group during the second quarter worth about $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the 1st quarter valued at about $50,000. Finally, Richardson Financial Services Inc. boosted its position in shares of Omnicom Group by 66.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 224 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

OMC traded down $0.74 during trading on Friday, reaching $104.48. The company’s stock had a trading volume of 1,531,358 shares, compared to its average volume of 1,532,531. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The company’s fifty day moving average price is $100.30 and its 200-day moving average price is $95.27. Omnicom Group Inc. has a 52-week low of $73.28 and a 52-week high of $106.51. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. During the same period in the previous year, the business earned $1.86 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OMC has been the topic of several research analyst reports. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $106.00 to $110.00 in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America increased their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. UBS Group lifted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays upped their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.