7,688 Omnicom Group Inc. $OMC Shares Sold by Profund Advisors LLC

Profund Advisors LLC trimmed its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 42.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,466 shares of the business services provider’s stock after selling 7,688 shares during the quarter. Profund Advisors LLC’s holdings in Omnicom Group were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Keating Financial Advisory Services Inc. acquired a new position in shares of Omnicom Group in the second quarter valued at approximately $25,000. Clearstead Trust LLC acquired a new stake in shares of Omnicom Group during the second quarter worth $36,000. Raiffeisen Bank International AG boosted its holdings in shares of Omnicom Group by 119.7% in the second quarter. Raiffeisen Bank International AG now owns 503 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 274 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new position in Omnicom Group during the 3rd quarter worth approximately $37,000. Finally, Compass Financial Management LLC acquired a new position in Omnicom Group during the second quarter worth $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

NYSE:OMC opened at $87.61 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $23.90 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 0.77 and a beta of 0.72. The firm has a 50-day moving average price of $79.61 and a two-hundred day moving average price of $78.32. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, October 22nd. The business services provider reported $2.73 EPS for the quarter, beating the consensus estimate of $2.67 by $0.06. Omnicom Group had a net margin of 2.85% and a return on equity of 24.67%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the business earned $2.24 earnings per share. The company’s quarterly revenue was up 59.1% on a year-over-year basis. As a group, research analysts expect that Omnicom Group Inc. will post 10.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on OMC shares. Argus raised shares of Omnicom Group to a “hold” rating in a report on Monday, September 14th. JPMorgan Chase & Co. reduced their price target on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Zacks Research raised Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Citigroup lowered their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 28th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.67.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Omnicom Group Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.