Omnicom Group (NYSE:OMC) Sees Unusually-High Trading Volume – Here’s Why

Shares of Omnicom Group Inc. (NYSE:OMC) saw strong trading volume on Friday . 5,006,795 shares changed hands during mid-day trading, an increase of 227% from the previous session’s volume of 1,530,322 shares.The stock last traded at $97.59 and had previously closed at $105.04.

Analysts Set New Price Targets

Several research analysts recently issued reports on OMC shares. JPMorgan Chase & Co. increased 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. UBS Group raised their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. Barclays increased their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Macquarie lifted their target price on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Trading Down 8.1 %

The stock has a market capitalization of $18.83 billion, a P/E ratio of 13.80, a PEG ratio of 2.32 and a beta of 0.95. The stock’s fifty day moving average price is $102.20 and its 200 day moving average price is $96.51. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group (NYSE:OMC) last released 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. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period in the prior year, the firm earned $1.86 EPS. Research analysts forecast that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

A number of institutional investors have recently added to or reduced their stakes in OMC. Northwest Investment Counselors LLC bought a new stake in Omnicom Group during the third quarter worth approximately $33,000. Davis Capital Management acquired a new stake in Omnicom Group during the 3rd quarter worth about $36,000. Innealta Capital LLC purchased a new position in Omnicom Group during the 2nd quarter valued at about $33,000. HM Payson & Co. increased its holdings in shares of Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 169 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Omnicom Group in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

About Omnicom Group

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.