Cinctive Capital Management LP Sells 15,137 Shares of Omnicom Group Inc. (NYSE:OMC)

Cinctive Capital Management LP cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 61.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,416 shares of the business services provider's stock after selling 15,137 shares during the period. Cinctive Capital Management LP's holdings in Omnicom Group were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in OMC. Cetera Advisors LLC raised its position in shares of Omnicom Group by 420.6% in the 1st quarter. Cetera Advisors LLC now owns 24,463 shares of the business services provider's stock valued at $2,367,000 after acquiring an additional 19,764 shares during the period. Massmutual Trust Co. FSB ADV increased 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 worth $70,000 after purchasing an additional 119 shares in the last quarter. DNB Asset Management AS increased its stake in Omnicom Group by 2.3% during the 2nd quarter. DNB Asset Management AS now owns 31,477 shares of the business services provider's stock worth $2,823,000 after purchasing an additional 696 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Omnicom Group during the 2nd quarter worth approximately $33,000. Finally, Park Avenue Securities LLC increased its stake in Omnicom Group by 52.6% during the 2nd quarter. Park Avenue Securities LLC now owns 10,038 shares of the business services provider's stock worth $900,000 after purchasing an additional 3,460 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OMC. UBS Group raised 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. Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised 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. Macquarie raised 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, Wells Fargo & Company cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $110.11.

Omnicom Group Price Performance

Shares of NYSE OMC traded down $0.53 during trading hours on Wednesday, reaching $103.27. 949,031 shares of the stock traded hands, compared to its average volume of 1,543,899. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company's 50-day simple moving average is $102.62 and its two-hundred day simple moving average is $97.23. The company has a market capitalization of $20.15 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. Omnicom Group Inc. has a 52-week low of $80.92 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.79 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. Equities research analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Andrew Castellaneta sold 4,000 shares of the company's 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 completion of 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 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. Corporate insiders own 1.30% of the company's stock.

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.