River Road Asset Management LLC reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 806,998 shares of the business services provider’s stock after selling 16,885 shares during the period. River Road Asset Management LLC owned approximately 0.35% of Omnicom Group worth $58,774,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new position in Omnicom Group in the fourth quarter valued at about $104,000. Eagle Ridge Investment Management bought a new position in Omnicom Group in the third quarter valued at about $201,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Omnicom Group in the third quarter worth about $205,000. Cable Hill Partners LLC raised its stake in shares of Omnicom Group by 3,527.5% in the third quarter. Cable Hill Partners LLC now owns 2,902 shares of the business services provider’s stock worth $215,000 after buying an additional 2,822 shares during the period. Finally, Oak Point Wealth Management bought a new position in shares of Omnicom Group in the fourth quarter worth about $219,000. 98.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down $5.73 during midday trading on Thursday, reaching $77.05. The company’s stock had a trading volume of 4,343,828 shares, compared to its average volume of 2,897,829. The company has a market cap of $18,341.18, a price-to-earnings ratio of 15.51, a PEG ratio of 2.59 and a beta of 1.20. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 1.62. Omnicom Group Inc. has a 1-year low of $65.32 and a 1-year high of $86.71.
Several research analysts have recently commented on OMC shares. TheStreet raised Omnicom Group from a “c+” rating to a “b-” rating in a research note on Tuesday. Argus raised Omnicom Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. BMO Capital Markets restated a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a report on Wednesday, October 18th. Finally, Barclays restated a “hold” rating and set a $81.00 price target on shares of Omnicom Group in a report on Thursday, January 25th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.07.
In related news, insider Peter K. Sherman sold 8,310 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $74.31, for a total transaction of $617,516.10. Following the transaction, the insider now directly owns 21,271 shares in the company, valued at approximately $1,580,648.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.
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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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