Northern Trust Corp Buys 185,103 Shares of Stagwell Inc. (NASDAQ:STGW)

Northern Trust Corp raised its stake in Stagwell Inc. (NASDAQ:STGW - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 950,179 shares of the company's stock after acquiring an additional 185,103 shares during the period. Northern Trust Corp owned approximately 0.36% of Stagwell worth $6,252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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. Dimensional Fund Advisors LP raised its holdings in Stagwell by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,730,153 shares of the company's stock worth $11,385,000 after acquiring an additional 51,341 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Stagwell by 0.4% in 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 acquiring an additional 6,992 shares during the last quarter. JPMorgan Chase & Co. lifted its position in 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 in the last quarter. Finally, First Pacific Advisors LP boosted its stake in Stagwell by 4.7% during the 4th 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 last quarter. 35.61% of the stock is currently owned by institutional investors.

Insider Transactions at Stagwell

In related news, CEO Mark Jeffery Penn purchased 10,000 shares of the firm's stock in a transaction 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 purchase, the chief executive officer now directly owns 9,014,055 shares in the company, valued at $43,898,447.85. This trade represents a 0.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.60% of the company's stock.

Stagwell Stock Performance

Stagwell stock traded down $0.05 during midday trading on Friday, hitting $4.71. The stock had a trading volume of 1,148,038 shares, compared to its average volume of 560,227. Stagwell Inc. has a 52-week low of $4.66 and a 52-week high of $8.18. The company has a market capitalization of $1.26 billion, a PE ratio of -471.00 and a beta of 1.51. The firm's fifty day moving average is $5.48 and its two-hundred day moving average is $6.32. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Benchmark lowered shares of Stagwell from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company decreased their target price on shares of Stagwell from $9.00 to $8.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and set a $9.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $10.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Stagwell currently has an average rating of "Moderate Buy" and an average target price 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.