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Omnicom's (OMC) Media Services Subsidiary Snaps Up Jump 450
Omnicom Group’s (OMC - Free Report) shares have had an impressive run on the bourse over the past year. The stock has appreciated 40.8%, outperforming the Zacks S&P 500 composite’s rise of 25.9%.
Omnicom Group Inc. Price and Consensus
Omnicom Group Inc. price-consensus-chart | Omnicom Group Inc. Quote
The company’s subsidiary, Omnicom Media Group (“OMG”), recently announced the acquisition of Jump 450 Media for an undisclosed amount.
Established in 2016, Jump 450 Media is a New York-based performance marketing agency that emphasizes on customer acquisition for high-growth and enterprise clients in industries like consumer, gaming, health and wellness and fintech.
The company has been named in AdAge's 2020 Best Places to Work, Fast Company's 2020 Best Workplaces, and Inc.'s 2019 Best Workplaces.
How Will Omnicom Benefit?
The acquisition of Jump 450 can help OMG establish a dedicated performance media platform and business operation.
According to Daryl Simm, Global chairman and CEO of OMG, Jump’s expertise in performance marketing and e-commerce media will help increase quality of OMG’s performance media offerings. This in turn will increase OMG’s quality of assistance toward high-growth and outcomes-focused clients.
Other Stocks to Consider
Omnicom currently carries a Zacks Rank #2 (Buy).
Some other stocks worth considering in the broader Zacks Business Services sector are ManpowerGroup (MAN - Free Report) , Interpublic Group of Companies (IPG - Free Report) and Cross Country Healthcare (CCRN - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected earnings per share (three to five years) growth rate for ManpowerGroup, Interpublic and Cross Country Healthcare is pegged at 24.2%, 11.5% and 9.9%, respectively.