Stagwell Inc. (NASDAQ:STGW) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in Stagwell Inc. (NASDAQ:STGW - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,686,009 shares of the company's stock after purchasing an additional 73,676 shares during the quarter. New York State Common Retirement Fund owned about 0.63% of Stagwell worth $10,200,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of STGW. Jacobs Levy Equity Management Inc. raised its position in Stagwell by 0.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 622,361 shares of the company's stock valued at $4,095,000 after acquiring an additional 1,759 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Stagwell by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,944 shares of the company's stock valued at $322,000 after acquiring an additional 1,892 shares in the last quarter. Ameriprise Financial Inc. raised its position in Stagwell by 0.6% during the fourth quarter. Ameriprise Financial Inc. now owns 351,397 shares of the company's stock valued at $2,312,000 after acquiring an additional 1,974 shares in the last quarter. Invesco Ltd. raised its position in Stagwell by 2.1% during the fourth quarter. Invesco Ltd. now owns 180,472 shares of the company's stock valued at $1,188,000 after acquiring an additional 3,653 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Stagwell by 0.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 578,700 shares of the company's stock valued at $3,808,000 after acquiring an additional 4,200 shares in the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

Stagwell Price Performance

Shares of NASDAQ:STGW traded down $0.15 during trading on Friday, reaching $4.93. The stock had a trading volume of 1,805,716 shares, compared to its average volume of 757,959. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.91 and a current ratio of 0.91. The business has a fifty day moving average price of $4.68 and a 200-day moving average price of $5.55. The stock has a market cap of $1.32 billion, a PE ratio of -493.00 and a beta of 1.39. 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 issued its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.05). The firm had revenue of $651.74 million during the quarter, compared to analyst estimates of $686.46 million. Stagwell had a return on equity of 15.38% and a net margin of 0.02%. The business's revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. On average, equities analysts forecast that Stagwell Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price objective on shares of Stagwell in a report on Thursday, April 3rd. Benchmark lowered Stagwell from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and issued a $10.00 price objective on shares of Stagwell in a report on Thursday, April 3rd. Finally, Wells Fargo & Company dropped their price objective on Stagwell from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Monday, May 12th.

Insider Buying and Selling

In other Stagwell news, Director Charlene Barshefsky bought 24,350 shares of Stagwell stock in a transaction on Wednesday, June 4th. The shares were bought at an average price of $4.30 per share, for a total transaction of $104,705.00. Following the completion of the transaction, the director directly 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eli Samaha bought 425,757 shares of Stagwell stock in a transaction on Wednesday, June 4th. The stock was acquired at an average price of $4.27 per share, for a total transaction of $1,817,982.39. Following the transaction, the director directly owned 7,774,322 shares of the company's stock, valued at approximately $33,196,354.94. This trade represents a 5.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 702,193 shares of company stock worth $3,044,496. 5.60% of the stock is owned by corporate insiders.

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.