NuWave Investment Management LLC acquired a new position in Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, HoldingsChannel reports. The firm acquired 7,173 shares of the business services provider’s stock, valued at approximately $522,000.

Several other institutional investors also recently modified their holdings of OMC. First Eagle Investment Management LLC raised its stake in shares of Omnicom Group by 12.4% in the third quarter. First Eagle Investment Management LLC now owns 15,101,129 shares of the business services provider’s stock worth $1,118,541,000 after purchasing an additional 1,671,452 shares during the last quarter. Longview Partners Guernsey LTD raised its stake in shares of Omnicom Group by 41.3% in the third quarter. Longview Partners Guernsey LTD now owns 5,653,698 shares of the business services provider’s stock worth $418,769,000 after purchasing an additional 1,653,208 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in shares of Omnicom Group in the fourth quarter worth approximately $51,393,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Omnicom Group in the third quarter worth approximately $39,649,000. Finally, Jensen Investment Management Inc. raised its stake in shares of Omnicom Group by 14.6% in the third quarter. Jensen Investment Management Inc. now owns 4,008,440 shares of the business services provider’s stock worth $296,905,000 after purchasing an additional 509,685 shares during the last quarter. 98.62% of the stock is owned by hedge funds and other institutional investors.

In other Omnicom Group news, insider Peter K. Sherman sold 8,310 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $74.31, for a total transaction of $617,516.10. Following the completion of the transaction, the insider now directly owns 21,271 shares of the company’s stock, valued at $1,580,648.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Several brokerages have recently commented on OMC. ValuEngine downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Morgan Stanley upped their target price on Omnicom Group from $72.00 to $76.00 and gave the company an “underweight” rating in a report on Wednesday, January 31st. Barclays reaffirmed a “hold” rating and issued a $81.00 target price on shares of Omnicom Group in a report on Thursday, January 25th. Bank of America lowered Omnicom Group from a “neutral” rating to an “underperform” rating in a report on Thursday, January 25th. Finally, Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Omnicom Group has a consensus rating of “Hold” and an average target price of $83.64.

Omnicom Group Inc. (OMC) opened at $78.78 on Tuesday. The stock has a market capitalization of $17,739.49, a P/E ratio of 15.48, a PEG ratio of 2.51 and a beta of 1.20. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62. Omnicom Group Inc. has a twelve month low of $65.32 and a twelve month high of $86.71.

TRADEMARK VIOLATION WARNING: This story was posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://theolympiareport.com/2018/02/13/nuwave-investment-management-llc-acquires-new-position-in-omnicom-group-inc-omc.html.

About Omnicom Group

Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.

Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMC).

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

Receive News & Ratings for Omnicom Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group and related companies with MarketBeat.com's FREE daily email newsletter.