Harbor Capital Advisors Inc. Acquires 361,907 Shares of Stagwell Inc. $STGW

Key Points

• Harbor Capital Advisors Inc. increased its stake in Stagwell Inc. by 21.9% during the second quarter, owning approximately 0.75% of the company's stock worth $9.05 million.
• Stagwell reported earnings per share (EPS) of $0.17 for the most recent quarter, missing analysts' projections, but showing a revenue increase of 5.3% year-over-year.
• Analyst opinions on Stagwell's stock are mixed, with three analysts rating it a buy, three issuing a hold rating, and an average target price of $8.17.

Harbor Capital Advisors Inc. grew its holdings in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 21.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,010,698 shares of the company's stock after purchasing an additional 361,907 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.75% of Stagwell worth $9,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STGW. Vident Advisory LLC bought a new stake in Stagwell during the first quarter valued at approximately $64,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Stagwell during the 4th quarter valued at $69,000. AQR Capital Management LLC bought a new stake in shares of Stagwell during the 1st quarter valued at $74,000. BNP Paribas Financial Markets bought a new stake in shares of Stagwell during the 4th quarter valued at $75,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Stagwell during the 1st quarter valued at $86,000. Hedge funds and other institutional investors own 35.61% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut their price target on Stagwell from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Needham & Company LLC reiterated a "buy" rating and set a $6.36 price objective on shares of Stagwell in a research note on Tuesday, July 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $10.00 price target on shares of Stagwell in a research report on Monday, July 28th. Zacks Research upgraded shares of Stagwell from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. Finally, Wall Street Zen lowered shares of Stagwell from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.17.

Stagwell Trading Down 4.0%

Shares of NASDAQ:STGW traded down $0.21 during trading on Friday, hitting $5.09. The company had a trading volume of 2,887,093 shares, compared to its average volume of 980,033. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 11.28 and a beta of 1.47. Stagwell Inc. has a one year low of $4.03 and a one year high of $8.18. The company has a fifty day simple moving average of $5.41 and a two-hundred day simple moving average of $5.27. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.86 and a quick ratio of 0.86.

Stagwell (NASDAQ:STGW - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The firm had revenue of $706.82 million during the quarter, compared to the consensus estimate of $696.03 million. Stagwell had a positive return on equity of 14.54% and a negative net margin of 0.06%.Stagwell's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. Stagwell has set its FY 2025 guidance at 0.750-0.880 EPS. As a group, equities analysts forecast that Stagwell Inc. will post 0.59 earnings per share for the current year.

About Stagwell

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.