The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Omnicom Group, Inc shares valued at $421,154 were sold by Castellaneta Andrew on Oct 18 ’24. At $105.29 per share, Castellaneta Andrew sold 4,000 shares. The insider’s holdings dropped to 23,545 shares worth approximately $2.07 million following the completion of this transaction.
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Also, Castellaneta Andrew purchased 4,000 shares, netting a total of over 421,153 in proceeds.
Before that, Tarlowe Rochelle M. had sold 3,000 shares from its account. In a trade valued at $297,510, the Senior VP and Treasurer traded Omnicom Group, Inc shares for $99.17 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $1.35 million.
As published in a research note from JP Morgan on October 16, 2024, Omnicom Group, Inc [OMC] has been retained to an Overweight and the price target has been revised to $119. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid October. As of May 07, 2024, Barclays has increased its “an Equal weight” rating to a “an Overweight” for OMC. Earlier on April 17, 2024, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for OMC stock which previously was a “an Equal weight”.
Analyzing OMC Stock Performance
During the last five days, there has been a drop of approximately -4.72%. Over the course of the year, Omnicom Group, Inc shares have jumped approximately 1.43%. Shares of the company reached a 52-week high of $107.00 on 11/06/24 and a 52-week low of $84.43 on 02/14/24. A 50-day SMA is recorded $100.80, while a 200-day SMA reached $96.21. Nevertheless, trading volume fell to 2.51 million shares from 3.3 million shares the previous day.
Support And Resistance Levels for Omnicom Group, Inc (OMC)
According to the 24-hour chart, there is a support level at 86.85, which, if violated, would cause prices to drop to 85.96. In the upper region, resistance lies at 89.51. The next price resistance is at 91.28. RSI (Relative Strength Index) is 23.16 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.15, which suggests the price will decrease in the coming days. Percent R is at 99.84%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
