Townsquare Capital LLC Acquires 1,772 Shares of Omnicom Group Inc. (NYSE:OMC)

Townsquare Capital LLC raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 4.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 43,064 shares of the business services provider’s stock after acquiring an additional 1,772 shares during the period. Townsquare Capital LLC’s holdings in Omnicom Group were worth $4,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Omnicom Group by 37.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after acquiring an additional 892,494 shares during the last quarter. Cooke & Bieler LP increased its holdings in shares of Omnicom Group by 4.8% in the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after purchasing an additional 109,406 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after buying an additional 364,665 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Omnicom Group by 6.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider’s stock valued at $127,398,000 after buying an additional 81,598 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Omnicom Group by 0.3% during the 2nd quarter. American Century Companies Inc. now owns 997,959 shares of the business services provider’s stock valued at $89,517,000 after buying an additional 2,797 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OMC. Bank of America upped their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group lifted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Macquarie upped their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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, October 16th. Finally, JPMorgan Chase & Co. upped their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and an average target price of $110.11.

Insider Activity at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Trading Down 0.3 %

Shares of NYSE OMC opened at $104.35 on Friday. Omnicom Group Inc. has a fifty-two week low of $78.90 and a fifty-two week high of $107.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.35 and a beta of 0.95. The business’s 50 day moving average price is $102.42 and its 200-day moving average price is $97.01.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period last year, the company earned $1.86 earnings per share. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

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.