Qsemble Capital Management LP Sells 8,512 Shares of Omnicom Group Inc. (NYSE:OMC)

Qsemble Capital Management LP cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 76.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,633 shares of the business services provider’s stock after selling 8,512 shares during the quarter. Qsemble Capital Management LP’s holdings in Omnicom Group were worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OMC. Bank of New York Mellon Corp grew its stake in shares of Omnicom Group by 37.0% during 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 period. Los Angeles Capital Management LLC bought a new position in shares of Omnicom Group during the 2nd quarter valued at approximately $56,177,000. Boston Partners grew its stake in shares of Omnicom Group by 11.0% during the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after acquiring an additional 383,560 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Omnicom Group by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares during the period. Finally, Conning Inc. bought a new position in shares of Omnicom Group during the 2nd quarter valued at approximately $32,484,000. 91.97% of the stock is currently owned by institutional investors.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The stock was 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 approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OMC. JPMorgan Chase & Co. upped their price target on 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 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 Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Finally, Barclays upped their price target on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Stock Down 0.3 %

NYSE OMC opened at $104.35 on Thursday. 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 capitalization of $20.36 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.35 and a beta of 0.95. Omnicom Group Inc. has a one year low of $78.90 and a one year high of $107.00. The stock has a 50 day moving average price of $102.42 and a 200-day moving average price of $96.96.

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

Omnicom Group Company 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.