Mcrae Capital Management Inc Lowers stake in Omnicom Group (OMC)

Omnicom Group (OMC) : Mcrae Capital Management Inc reduced its stake in Omnicom Group by 0.27% during the most recent quarter end. The investment management company now holds a total of 109,405 shares of Omnicom Group which is valued at $9,185,644 after selling 300 shares in Omnicom Group , the firm said in a disclosure report filed with the SEC on May 2, 2016.Omnicom Group makes up approximately 4.12% of Mcrae Capital Management Inc’s portfolio.

Omnicom Group opened for trading at $83.21 and hit $84.195 on the upside on Friday, eventually ending the session at $83.96, with a gain of 0.84% or 0.7 points. The heightened volatility saw the trading volume jump to 13,20,329 shares. Company has a market cap of $20,116 M.

Other Hedge Funds, Including , Agf Investments boosted its stake in OMC in the latest quarter, The investment management firm added 95,025 additional shares and now holds a total of 1,491,128 shares of Omnicom Group which is valued at $125,195,107. Omnicom Group makes up approx 1.49% of Agf Investments’s portfolio.Chatham Capital Group boosted its stake in OMC in the latest quarter, The investment management firm added 1,250 additional shares and now holds a total of 100,605 shares of Omnicom Group which is valued at $8,347,197. Omnicom Group makes up approx 2.62% of Chatham Capital Group’s portfolio.Private Bank Trust Co reduced its stake in OMC by selling 410 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 17,038 shares of OMC which is valued at $1,427,273. Omnicom Group makes up approx 0.24% of Private Bank Trust Co’s portfolio.

On the company’s financial health, Omnicom Group reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.87. The company had revenue of $3499.10 million for the quarter, compared to analysts expectations of $3520.84 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Many Wall Street Analysts have commented on Omnicom Group. Omnicom Group was Downgraded by Wells Fargo to ” Market Perform” on Apr 14, 2016. Company shares were Reiterated by Telsey Advisory Group on Feb 10, 2016 to “Market Perform”, Firm has raised the Price Target to $ 79 from a previous price target of $74.50 .Company shares were Reiterated by Wedbush on Feb 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 81 from a previous price target of $80 .

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 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. Its services in these disciplines include advertising brand consultancy content marketing corporate social responsibility consulting crisis communications data analytics and database management among others. Its advertising brands include BBDO Worldwide DDB Worldwide and TBWA Worldwide. The Company’s branded agency networks operate in geographic regions including the Americas which includes North America and Latin America; EMEA which includes Europe the Middle East and Africa and Asia Pacific which includes Australia China India Japan Korea New Zealand Singapore and other Asian countries.

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