New York State Common Retirement Fund Raises Stock Position in Stagwell Inc. (NASDAQ:STGW)

New York State Common Retirement Fund grew its position in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 4.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,686,009 shares of the company's stock after acquiring an additional 73,676 shares during the period. New York State Common Retirement Fund owned about 0.63% of Stagwell worth $10,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Stagwell by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 800,703 shares of the company's stock valued at $5,269,000 after acquiring an additional 6,742 shares during the period. Victory Capital Management Inc. raised its position in shares of Stagwell by 185.7% in the 4th quarter. Victory Capital Management Inc. now owns 38,735 shares of the company's stock worth $255,000 after purchasing an additional 25,177 shares during the last quarter. Boston Partners grew its position in Stagwell by 4.5% during the 4th quarter. Boston Partners now owns 2,333,593 shares of the company's stock valued at $15,369,000 after purchasing an additional 101,318 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Stagwell by 12.0% during the fourth quarter. American Century Companies Inc. now owns 160,520 shares of the company's stock valued at $1,056,000 after buying an additional 17,261 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in Stagwell by 0.7% in the 4th 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Stagwell

In related news, Director Charlene Barshefsky acquired 24,350 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was acquired at an average price of $4.30 per share, with a total value of $104,705.00. Following the acquisition, the director directly owned 185,316 shares in the company, valued at $796,858.80. This represents a 15.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eli Samaha purchased 240,000 shares of Stagwell stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average price of $4.43 per share, with a total value of $1,063,200.00. Following the completion of the transaction, the director owned 8,014,322 shares of the company's stock, valued at $35,503,446.46. This represents a 3.09% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 702,193 shares of company stock worth $3,044,496. Company insiders own 3.80% of the company's stock.

Stagwell Trading Up 4.1%

STGW stock traded up $0.20 during midday trading on Tuesday, reaching $5.05. The company's stock had a trading volume of 1,527,053 shares, compared to its average volume of 764,325. Stagwell Inc. has a 1 year low of $4.03 and a 1 year high of $8.18. The stock has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $5.54. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -505.00 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 (NASDAQ:STGW - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $686.46 million. Stagwell had a return on equity of 15.38% and a net margin of 0.02%. Stagwell's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. On average, equities research analysts predict that Stagwell Inc. will post 0.59 EPS for the current 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.