Jane Street Group LLC Sells 59,052 Shares of Stagwell Inc. (NASDAQ:STGW)

Jane Street Group LLC decreased its position in Stagwell Inc. (NASDAQ:STGW - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,454 shares of the company's stock after selling 59,052 shares during the quarter. Jane Street Group LLC's holdings in Stagwell were worth $595,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in STGW. Quarry LP bought a new position in Stagwell in the fourth quarter worth $29,000. KLP Kapitalforvaltning AS bought a new position in shares of Stagwell during the fourth quarter valued at $105,000. Walleye Capital LLC bought a new position in shares of Stagwell during the fourth quarter valued at $107,000. XTX Topco Ltd bought a new position in shares of Stagwell during the fourth quarter valued at $110,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Stagwell by 31.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 19,468 shares of the company's stock valued at $128,000 after acquiring an additional 4,609 shares in the last quarter. Institutional investors own 35.61% of the company's stock.

Insider Buying and Selling at Stagwell

In other news, CEO Mark Jeffery Penn purchased 10,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average price of $4.87 per share, with a total value of $48,700.00. Following the transaction, the chief executive officer now owns 9,014,055 shares of the company's stock, valued at $43,898,447.85. This represents a 0.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Stagwell Price Performance

NASDAQ STGW traded down $0.29 during trading hours on Friday, reaching $4.55. The company's stock had a trading volume of 2,097,771 shares, compared to its average volume of 580,598. The firm's 50-day moving average price is $5.34 and its 200-day moving average price is $6.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. Stagwell Inc. has a 1 year low of $4.45 and a 1 year high of $8.18. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -455.00 and a beta of 1.51.

Stagwell (NASDAQ:STGW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.05). The firm had revenue of $651.74 million for the quarter, compared to analysts' expectations of $686.46 million. Stagwell had a return on equity of 8.03% and a net margin of 0.01%. The firm's revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. On average, equities research analysts predict that Stagwell Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STGW has been the subject of several analyst reports. Benchmark downgraded Stagwell from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and set a $9.00 price target on shares of Stagwell in a report on Thursday, April 3rd. Rosenblatt Securities restated a "buy" rating and set a $10.00 price target on shares of Stagwell in a report on Thursday, April 3rd. Finally, Wells Fargo & Company reduced their price target on Stagwell from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.60.

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.