Stagwell Inc. (NASDAQ:STGW) Position Boosted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 30.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,648,791 shares of the company's stock after acquiring an additional 382,008 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.62% of Stagwell worth $9,975,000 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. Quarry LP acquired a new stake in Stagwell during the fourth quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stagwell during the 4th quarter worth about $69,000. BNP Paribas Financial Markets purchased a new stake in Stagwell during the 4th quarter worth about $75,000. Squarepoint Ops LLC purchased a new stake in Stagwell during the 4th quarter worth about $96,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Stagwell during the fourth quarter worth about $105,000. Institutional investors and hedge funds own 35.61% of the company's stock.

Stagwell Trading Up 4.4%

Shares of STGW stock traded up $0.21 on Wednesday, reaching $5.00. 2,125,003 shares of the stock were exchanged, compared to its average volume of 649,068. The stock has a market cap of $1.34 billion, a P/E ratio of -500.00 and a beta of 1.44. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average of $5.12 and a two-hundred day moving average of $6.08. 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 released 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). Stagwell had a return on equity of 8.03% and a net margin of 0.01%. The firm had revenue of $651.74 million for the quarter, compared to analyst estimates of $686.46 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The company's quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts anticipate that Stagwell Inc. will post 0.59 EPS for the current year.

Insider Activity at Stagwell

In other Stagwell news, Director Charlene Barshefsky bought 24,350 shares of the stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of $4.30 per share, for a total transaction of $104,705.00. Following the completion of the purchase, the director now directly owns 185,316 shares of the company's stock, valued at approximately $796,858.80. The trade was a 15.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Jeffery Penn bought 10,000 shares of the 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 completion of the purchase, the chief executive officer now directly owns 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 disclosure for this purchase can be found here. In the last three months, insiders purchased 702,193 shares of company stock worth $3,044,496. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

STGW has been the topic of a number of research analyst reports. Benchmark cut Stagwell from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company lowered 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. Needham & Company LLC reissued a "buy" rating and set a $9.00 price target on shares of Stagwell in a research note on Thursday, April 3rd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $10.00 price target on shares of Stagwell in a research note on Thursday, April 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently 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.