Stagwell Group LLC reduced its position in Stagwell Inc. (NASDAQ:STGW – Free Report) by 46.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,197,837 shares of the company’s stock after selling 12,304,577 shares during the period. Stagwell accounts for about 100.0% of Stagwell Group LLC’s holdings, making the stock its biggest holding. Stagwell Group LLC owned 4.85% of Stagwell worth $105,348,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in STGW. RK Capital Management LLC lifted its stake in Stagwell by 177.3% in the first quarter. RK Capital Management LLC now owns 1,683,000 shares of the company’s stock valued at $12,488,000 after buying an additional 1,076,100 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Stagwell by 1,951.5% in the first quarter. New York State Common Retirement Fund now owns 980,044 shares of the company’s stock valued at $7,272,000 after buying an additional 932,272 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Stagwell by 2,855.2% in the first quarter. Dimensional Fund Advisors LP now owns 495,879 shares of the company’s stock valued at $3,679,000 after buying an additional 479,099 shares during the last quarter. BlackRock Inc. lifted its stake in Stagwell by 8.2% in the third quarter. BlackRock Inc. now owns 5,324,918 shares of the company’s stock valued at $37,008,000 after buying an additional 402,821 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Stagwell by 10.2% in the third quarter. Vanguard Group Inc. now owns 4,290,426 shares of the company’s stock valued at $29,819,000 after buying an additional 396,381 shares during the last quarter. 97.86% of the stock is owned by institutional investors and hedge funds.
Stagwell Trading Down 2.7 %
NASDAQ:STGW opened at $5.31 on Friday. The stock has a fifty day moving average price of $6.24 and a two-hundred day moving average price of $6.59. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -265.50 and a beta of 1.09. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.81 and a current ratio of 0.81. Stagwell Inc. has a 1 year low of $4.67 and a 1 year high of $9.23.
Analysts Set New Price Targets
A number of brokerages have weighed in on STGW. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Stagwell in a research note on Wednesday, August 9th. Rosenblatt Securities reduced their price objective on Stagwell from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Morgan Stanley assumed coverage on Stagwell in a research note on Wednesday, June 28th. They set an “equal weight” rating and a $9.00 price target for the company. The Goldman Sachs Group cut their price target on Stagwell from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, August 11th. Finally, Benchmark restated a “buy” rating and set a $10.00 price target on shares of Stagwell in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.
Get Our Latest Analysis on Stagwell
Insiders Place Their Bets
In other news, President Jay Leveton bought 7,540 shares of the stock in a transaction on Monday, August 21st. The shares were bought at an average price of $4.89 per share, with a total value of $36,870.60. Following the completion of the acquisition, the president now owns 491,825 shares of the company’s stock, valued at $2,405,024.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.90% of the stock is currently owned by company insiders.
Stagwell Profile
Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-based communications technology, cookie-less data platforms for audience targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.
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