Townsquare Capital LLC Purchases 1,772 Shares of Omnicom Group Inc. (NYSE:OMC)

Townsquare Capital LLC lifted its position in Omnicom Group Inc. (NYSE:OMC) by 4.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,064 shares of the business services provider’s stock after purchasing an additional 1,772 shares during the quarter. Townsquare Capital LLC’s holdings in Omnicom Group were worth $4,452,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Omnicom Group in the second quarter worth approximately $33,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the 3rd quarter valued at $33,000. Davis Capital Management bought a new position in shares of Omnicom Group during the 3rd quarter valued at $36,000. Finally, HM Payson & Co. raised its position in Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Macquarie lifted 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. UBS Group increased their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America raised their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $104.35 on Friday. The firm has a market cap of $20.36 billion, a P/E ratio of 14.26, a PEG ratio of 2.35 and a beta of 0.95. Omnicom Group Inc. has a twelve month low of $78.90 and a twelve month high of $107.00. 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 has a 50 day moving average of $102.42 and a 200 day moving average of $97.01.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. As a group, research analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’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 value of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.