Investors Sell Omnicom Group Inc. (OMC) on Strength (OMC)
Investors sold shares of Omnicom Group Inc. (NYSE:OMC) on strength during trading on Monday. $13.35 million flowed into the stock on the tick-up and $32.07 million flowed out of the stock on the tick-down, for a money net flow of $18.72 million out of the stock. Of all companies tracked, Omnicom Group had the 0th highest net out-flow for the day. Omnicom Group traded up $0.31 for the day and closed at $82.60
OMC has been the subject of several recent research reports. Barclays PLC downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $82.00 to $90.00 in a report on Wednesday, April 20th. Zacks Investment Research downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Wedbush reaffirmed a “hold” rating and set a $85.00 price target (up from $81.00) on shares of Omnicom Group in a report on Thursday, April 14th. BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Finally, Albert Fried & Company reaffirmed a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and an average target price of $80.82.
The stock has a market capitalization of $19.54 billion and a price-to-earnings ratio of 18.07. The firm’s 50-day moving average price is $82.31 and its 200 day moving average price is $80.39.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.03. During the same quarter last year, the firm posted $1.26 earnings per share. The firm earned $3.88 billion during the quarter, compared to the consensus estimate of $3.91 billion. Omnicom Group’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Omnicom Group Inc. will post $4.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.66%.
In related news, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $84.31, for a total transaction of $1,922,268.00. Following the completion of the transaction, the chairman now owns 128,650 shares in the company, valued at approximately $10,846,481.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Wren sold 35,104 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $82.35, for a total value of $2,890,814.40. Following the transaction, the chief executive officer now owns 971,798 shares of the company’s stock, valued at approximately $80,027,565.30. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently added to or reduced their stakes in OMC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Omnicom Group by 1.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,828 shares of the company’s stock worth $1,198,000 after buying an additional 219 shares in the last quarter. BHF Kleinwort Benson Group S.A. bought a new position in Omnicom Group during the fourth quarter worth about $1,495,000. Advantus Capital Management Inc raised its position in Omnicom Group by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 23,189 shares of the company’s stock worth $1,754,000 after buying an additional 584 shares in the last quarter. Parsons Capital Management Inc. RI raised its position in Omnicom Group by 0.3% in the fourth quarter. Parsons Capital Management Inc. RI now owns 27,533 shares of the company’s stock worth $2,083,000 after buying an additional 70 shares in the last quarter. Finally, GAM Holding AG raised its position in Omnicom Group by 9.8% in the fourth quarter. GAM Holding AG now owns 29,067 shares of the company’s stock worth $2,199,000 after buying an additional 2,606 shares in the last quarter.
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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