Studio Investment Management LLC Boosts Stock Position in Omnicom Group Inc. $OMC

Studio Investment Management LLC grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,641 shares of the business services provider’s stock after acquiring an additional 530 shares during the period. Studio Investment Management LLC’s holdings in Omnicom Group were worth $700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. lifted its position in shares of Omnicom Group by 0.7% during the second quarter. Cullen Frost Bankers Inc. now owns 176,763 shares of the business services provider’s stock worth $12,716,000 after acquiring an additional 1,285 shares in the last quarter. Greenup Street Wealth Management LLC lifted its position in shares of Omnicom Group by 13.5% during the second quarter. Greenup Street Wealth Management LLC now owns 3,234 shares of the business services provider’s stock worth $233,000 after acquiring an additional 384 shares in the last quarter. Crux Wealth Advisors increased its holdings in shares of Omnicom Group by 88.0% in the second quarter. Crux Wealth Advisors now owns 6,200 shares of the business services provider’s stock worth $446,000 after purchasing an additional 2,902 shares during the period. Mezzasalma Advisors LLC increased its holdings in shares of Omnicom Group by 4.4% in the second quarter. Mezzasalma Advisors LLC now owns 5,574 shares of the business services provider’s stock worth $401,000 after purchasing an additional 235 shares during the period. Finally, BKM Wealth Management LLC increased its holdings in shares of Omnicom Group by 11.9% in the second quarter. BKM Wealth Management LLC now owns 18,443 shares of the business services provider’s stock worth $1,327,000 after purchasing an additional 1,963 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Finally, Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.29.

Omnicom Group Stock Up 0.8%

OMC opened at $78.80 on Wednesday. The stock has a market cap of $15.27 billion, a PE ratio of 11.31, a P/E/G ratio of 1.53 and a beta of 0.96. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The business’s fifty day simple moving average is $77.61 and its 200 day simple moving average is $74.95.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 earnings per share. As a group, research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal 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.