Crestline Management LP Boosts Holdings in Omnicom Group Inc. (NYSE:OMC)

Crestline Management LP lifted its holdings in Omnicom Group Inc. (NYSE:OMC) by 157.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,580 shares of the business services provider’s stock after purchasing an additional 5,853 shares during the period. Crestline Management LP’s holdings in Omnicom Group were worth $824,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Center For Asset Management LLC grew its stake in Omnicom Group by 3.3% during the 4th quarter. Center For Asset Management LLC now owns 4,523 shares of the business services provider’s stock worth $389,000 after purchasing an additional 146 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Omnicom Group by 13.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock worth $105,000 after buying an additional 147 shares in the last quarter. MGO One Seven LLC raised its holdings in Omnicom Group by 3.2% in the fourth quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider’s stock valued at $437,000 after acquiring an additional 157 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Omnicom Group by 6.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,523 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 161 shares in the last quarter. Finally, Convergence Financial LLC lifted its stake in Omnicom Group by 6.5% in the fourth quarter. Convergence Financial LLC now owns 2,694 shares of the business services provider’s stock worth $232,000 after acquiring an additional 165 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OMC shares. Barclays reduced their price objective on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. UBS Group decreased their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Citigroup restated a “buy” rating and set a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price target on shares of Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.29.

Omnicom Group Trading Down 0.7 %

NYSE:OMC opened at $75.94 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 52-week low of $69.13 and a 52-week high of $107.00. The stock’s 50 day moving average price is $77.45 and its 200 day moving average price is $86.65. The company has a market capitalization of $14.82 billion, a PE ratio of 10.19, a P/E/G ratio of 1.94 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. On average, research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.69%. Omnicom Group’s dividend payout ratio is currently 38.30%.

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.