Harbor Capital Advisors Inc. Purchases 382,008 Shares of Stagwell Inc. (NASDAQ:STGW)

Harbor Capital Advisors Inc. raised its stake in Stagwell Inc. (NASDAQ:STGW - Free Report) by 30.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Boston Partners lifted its holdings in Stagwell by 4.5% in the fourth quarter. Boston Partners now owns 2,333,593 shares of the company's stock valued at $15,369,000 after buying an additional 101,318 shares during the period. Dimensional Fund Advisors LP lifted its stake in Stagwell by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,730,153 shares of the company's stock valued at $11,385,000 after buying an additional 51,341 shares during the period. New York State Common Retirement Fund grew its position in shares of Stagwell by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 1,612,333 shares of the company's stock worth $10,609,000 after buying an additional 6,992 shares during the period. JPMorgan Chase & Co. raised its position in shares of Stagwell by 2,968.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,193,355 shares of the company's stock valued at $7,852,000 after acquiring an additional 1,154,458 shares during the period. Finally, First Pacific Advisors LP grew its holdings in Stagwell by 4.7% during the fourth quarter. First Pacific Advisors LP now owns 1,123,516 shares of the company's stock valued at $7,393,000 after purchasing an additional 50,805 shares during the period. 35.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Stagwell from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price target on shares of Stagwell in a research note on Thursday, April 3rd. Benchmark cut Stagwell from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $10.00 price target on shares of Stagwell in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.60.

Stagwell Price Performance

Shares of Stagwell stock traded down $0.45 during trading on Friday, reaching $4.38. 1,561,766 shares of the company's stock were exchanged, compared to its average volume of 657,123. Stagwell Inc. has a 1-year low of $4.03 and a 1-year high of $8.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The firm's 50-day moving average price is $5.11 and its 200 day moving average price is $6.05. The company has a market cap of $1.17 billion, a P/E ratio of -438.00 and a beta of 1.44.

Stagwell (NASDAQ:STGW - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $651.74 million for the quarter, compared to analyst estimates of $686.46 million. Stagwell had a return on equity of 8.03% and a net margin of 0.01%. The firm's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. As a group, research analysts anticipate that Stagwell Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at Stagwell

In other news, Director Eli Samaha purchased 425,757 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average cost of $4.27 per share, with a total value of $1,817,982.39. Following the completion of the transaction, the director now directly owns 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Jeffery Penn purchased 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average price of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 9,014,055 shares of the company's stock, valued at $43,898,447.85. This trade represents a 0.11% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 702,193 shares of company stock worth $3,044,496. Company insiders own 5.60% of the company's stock.

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.