Omnicom Group, Inc.’s recent filing unveils that its Senior VP and Treasurer Tarlowe Rochelle M. unloaded Company’s shares for reported $0.14 million on Mar 13 ’24. In the deal valued at $95.34 per share,1,500 shares were sold. As a result of this transaction, Tarlowe Rochelle M. now holds 15,579 shares worth roughly $1.46 million.
Then, RICE LINDA JOHNSON sold 507 shares, generating $43,937 in total proceeds. Upon selling the shares at $86.66, the Director now owns 9,753 shares.
Before that, RICE LINDA JOHNSON sold 587 shares. Omnicom Group, Inc. shares valued at $46,200 were divested by the Director at a price of $78.70 per share. As a result of the transaction, RICE LINDA JOHNSON now holds 9,664 shares, worth roughly $0.91 million.
Macquarie reiterated its Omnicom Group, Inc. [OMC] rating to an Outperform in a research note published on April 02, 2024; the price target was $110. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who increased its forecast for the stock in late March from “a Neutral” to “an Outperform”. Wells Fargo also remained covering OMC and reiterated its “an Equal weight” recommendation on February 07, 2024. JP Morgan maintained its rating on February 07, 2024. It rated OMC as “an Overweight”.
Price Performance Review of OMC
On Tuesday, Omnicom Group, Inc. [NYSE:OMC] saw its stock jump 0.92% to $93.94. Over the last five days, the stock has lost -1.44%. Omnicom Group, Inc. shares have risen nearly 8.59% since the year began. Nevertheless, the stocks have risen 0.96% over the past one year. While a 52-week high of $99.23 was reached on 03/28/24, a 52-week low of $72.20 was recorded on 02/14/24. SMA at 50 days reached $90.93, while 200 days put it at $84.32. A total of 1.08 million shares were traded, compared to the trading of 1.18 million shares in the previous session.
Levels Of Support And Resistance For OMC Stock
The 24-hour chart illustrates a support level at 93.08, which if violated will result in even more drops to 92.22. On the upside, there is a resistance level at 94.50. A further resistance level may holdings at 95.06. The Relative Strength Index (RSI) on the 14-day chart is 54.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.17%. Stochastics %K at 25.10% indicates the stock is a holding.
How much short interest is there in Omnicom Group, Inc.?
A steep rise in short interest was recorded in Omnicom Group, Inc. stocks on Mar 28, 2024, growing by 2.1 million shares to a total of 9.32 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 7.22 million shares. There was a rise of 22.53%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.42% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.03.
The most recent change occurred on January 11, 2024 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $117 price target.
