Edgestream Partners L.P. Takes $3.22 Million Position in Omnicom Group Inc. (NYSE:OMC)

Edgestream Partners L.P. purchased a new stake in Omnicom Group Inc. (NYSE:OMC) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 31,124 shares of the business services provider’s stock, valued at approximately $3,218,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Atria Investments Inc boosted its stake in Omnicom Group by 19.8% during the 1st quarter. Atria Investments Inc now owns 17,580 shares of the business services provider’s stock valued at $1,701,000 after purchasing an additional 2,909 shares during the period. Cetera Investment Advisers boosted its stake in Omnicom Group by 197.4% during the 1st quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock valued at $12,338,000 after purchasing an additional 84,632 shares during the period. Cetera Advisors LLC boosted its stake in Omnicom Group by 420.6% during the 1st quarter. Cetera Advisors LLC now owns 24,463 shares of the business services provider’s stock valued at $2,367,000 after purchasing an additional 19,764 shares during the period. GAMMA Investing LLC boosted its stake in Omnicom Group by 8.5% during the 2nd quarter. GAMMA Investing LLC now owns 4,662 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 364 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Omnicom Group by 18.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 119 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’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 sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Omnicom Group Stock Up 0.5 %

NYSE OMC opened at $104.82 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The company’s 50 day simple moving average is $102.47 and its 200 day simple moving average is $97.07. Omnicom Group Inc. has a 12 month low of $79.68 and a 12 month high of $107.00. The company has a market capitalization of $20.45 billion, a P/E ratio of 14.32, a PEG ratio of 2.35 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

OMC has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America upped 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. Macquarie upped their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group upped their price target 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.11.

About Omnicom Group

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.