First Pacific Advisors LP Acquires 68,402 Shares of Stagwell Inc. (NASDAQ:STGW)

First Pacific Advisors LP lifted its holdings in Stagwell Inc. (NASDAQ:STGW - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,191,918 shares of the company's stock after purchasing an additional 68,402 shares during the period. First Pacific Advisors LP owned 0.45% of Stagwell worth $7,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of STGW. Quarry LP acquired a new stake in shares of Stagwell in the 4th quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Stagwell in the 4th quarter valued at $69,000. BNP Paribas Financial Markets acquired a new stake in shares of Stagwell in the 4th quarter valued at $75,000. Teacher Retirement System of Texas acquired a new position in Stagwell during the 1st quarter worth $86,000. Finally, Squarepoint Ops LLC acquired a new position in Stagwell during the 4th quarter worth $96,000. Institutional investors and hedge funds own 35.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STGW shares. Wells Fargo & Company cut their target price on shares of Stagwell from $9.00 to $8.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Benchmark lowered shares of Stagwell from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and set a $6.36 target price on shares of Stagwell in a research report on Tuesday. Finally, Rosenblatt Securities reissued a "buy" rating and set a $10.00 target price on shares of Stagwell in a research report on Thursday, April 3rd.

Insider Activity

In related news, CEO Mark Jeffery Penn acquired 10,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was acquired at an average price of $4.87 per share, with a total value of $48,700.00. Following the completion of the transaction, the chief executive officer owned 9,014,055 shares of the company's stock, valued at approximately $43,898,447.85. This represents a 0.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charlene Barshefsky bought 24,350 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was acquired at an average cost of $4.30 per share, for a total transaction of $104,705.00. Following the purchase, the director owned 185,316 shares of the company's stock, valued at $796,858.80. This trade represents a 15.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 702,193 shares of company stock valued at $3,044,496. Insiders own 5.60% of the company's stock.

Stagwell Stock Performance

Shares of STGW traded up $0.19 during trading hours on Friday, reaching $5.40. 773,913 shares of the company traded hands, compared to its average volume of 1,568,266. The stock's fifty day moving average is $4.66 and its 200 day moving average is $5.51. The stock has a market cap of $1.45 billion, a P/E ratio of -540.00 and a beta of 1.39. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.91 and a current ratio of 0.91. Stagwell Inc. has a 1-year low of $4.03 and a 1-year high of $8.18.

Stagwell (NASDAQ:STGW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.05). The company had revenue of $651.74 million for the quarter, compared to analyst estimates of $686.46 million. Stagwell had a net margin of 0.02% and a return on equity of 15.38%. The firm's quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Equities research analysts anticipate that Stagwell Inc. will post 0.59 earnings per share for the current fiscal year.

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)-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.