683 Capital Management LLC Has $4.94 Million Stake in Stagwell Inc. (NASDAQ:STGW)

683 Capital Management LLC grew its position in Stagwell Inc. (NASDAQ:STGW - Free Report) by 94.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 750,000 shares of the company's stock after purchasing an additional 365,000 shares during the period. 683 Capital Management LLC owned about 0.28% of Stagwell worth $4,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STGW. Quarry LP bought a new stake in Stagwell during the 4th quarter worth approximately $29,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Stagwell during the fourth quarter worth $105,000. Walleye Capital LLC bought a new stake in Stagwell in the 4th quarter valued at $107,000. XTX Topco Ltd acquired a new position in Stagwell in the 4th quarter worth $110,000. Finally, Pictet Asset Management Holding SA increased its holdings in Stagwell by 31.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,468 shares of the company's stock worth $128,000 after purchasing an additional 4,609 shares in the last quarter. 35.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STGW has been the subject of several recent research reports. Rosenblatt Securities restated a "buy" rating and set a $10.00 target price on shares of Stagwell in a report on Thursday, April 3rd. Benchmark reduced their price objective on shares of Stagwell from $10.00 to $9.50 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company raised Stagwell from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $8.00 to $9.00 in a research report on Friday, February 21st. Finally, Needham & Company LLC reissued a "buy" rating and set a $9.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $8.80.

Stagwell Stock Performance

NASDAQ STGW traded up $0.02 during trading on Wednesday, reaching $5.89. 384,525 shares of the company's stock were exchanged, compared to its average volume of 512,799. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day moving average price of $5.74 and a 200-day moving average price of $6.45. The stock has a market capitalization of $1.57 billion, a P/E ratio of 294.25 and a beta of 1.51. Stagwell Inc. has a fifty-two week low of $4.75 and a fifty-two week high of $8.18.

Stagwell Company 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)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.