Ruane Cunniff Goldfarb Inc Lowers stake in Omnicom Group (OMC)

Omnicom Group (OMC) : Ruane Cunniff Goldfarb Inc reduced its stake in Omnicom Group by 11.49% during the most recent quarter end. The investment management company now holds a total of 2,378,012 shares of Omnicom Group which is valued at $197,470,116 after selling 308,601 shares in Omnicom Group , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Omnicom Group makes up approximately 1.82% of Ruane Cunniff Goldfarb Inc’s portfolio.

Other Hedge Funds, Including , Eastern Bank boosted its stake in OMC in the latest quarter, The investment management firm added 1,350 additional shares and now holds a total of 39,383 shares of Omnicom Group which is valued at $3,270,364. Omnicom Group makes up approx 0.26% of Eastern Bank’s portfolio.River Mercantile Asset Management Llp boosted its stake in OMC in the latest quarter, The investment management firm added 12,100 additional shares and now holds a total of 29,700 shares of Omnicom Group which is valued at $2,523,312. Omnicom Group makes up approx 1.02% of River Mercantile Asset Management Llp’s portfolio.Palisade Asset Management reduced its stake in OMC by selling 1,150 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 105,403 shares of OMC which is valued at $8,955,039. Omnicom Group makes up approx 1.67% of Palisade Asset Management’s portfolio.Webster Bank N. A. reduced its stake in OMC by selling 16 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 4,301 shares of OMC which is valued at $365,413. Omnicom Group makes up approx 0.05% of Webster Bank N. A.’s portfolio.Dnb Asset Management As reduced its stake in OMC by selling 300 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 19,809 shares of OMC which is valued at $1,646,524. Omnicom Group makes up approx 0.03% of Dnb Asset Management As’s portfolio.

Omnicom Group opened for trading at $82.72 and hit $83.35 on the upside on Monday, eventually ending the session at $83.04, with a gain of 0.31% or 0.26 points. The heightened volatility saw the trading volume jump to 10,43,419 shares. Company has a market cap of $19,743 M.

On the company’s financial health, Omnicom Group reported $1.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $1.33. The company had revenue of $3884.90 million for the quarter, compared to analysts expectations of $3906.11 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.

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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