Allspring Global Investments Holdings LLC decreased its stake in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 93.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,353 shares of the company's stock after selling 240,355 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Stagwell were worth $105,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of STGW. Charles Schwab Investment Management Inc. boosted its holdings in shares of Stagwell by 0.8% in 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 last quarter. Victory Capital Management Inc. boosted its holdings 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 valued at $255,000 after acquiring an additional 25,177 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Stagwell in the 4th quarter valued at $293,000. Boston Partners boosted its holdings in shares of Stagwell by 4.5% in the 4th quarter. Boston Partners now owns 2,333,593 shares of the company's stock valued at $15,369,000 after acquiring an additional 101,318 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Stagwell by 12.0% in the 4th quarter. American Century Companies Inc. now owns 160,520 shares of the company's stock valued at $1,056,000 after acquiring an additional 17,261 shares during the last quarter. Institutional investors and hedge funds own 35.61% of the company's stock.
Analyst Upgrades and Downgrades
STGW has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $9.00 price target on shares of Stagwell in a report on Thursday, April 3rd. Benchmark downgraded shares of Stagwell from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and set a $10.00 price target on shares of Stagwell in a report on Thursday, April 3rd. Finally, Wells Fargo & Company lowered 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.
Check Out Our Latest Research Report on Stagwell
Stagwell Stock Performance
STGW opened at $4.65 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.88. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -465.00 and a beta of 1.39. Stagwell Inc. has a 52-week low of $4.03 and a 52-week high of $8.18. The firm's fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $5.61.
Stagwell (NASDAQ:STGW - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $686.46 million. Stagwell had a net margin of 0.02% and a return on equity of 15.38%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. Equities analysts anticipate that Stagwell Inc. will post 0.59 earnings per share for the current fiscal year.
Insider Buying and Selling at Stagwell
In related news, Director Charlene Barshefsky acquired 24,350 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were acquired at an average cost of $4.30 per share, with a total value of $104,705.00. Following the completion of the acquisition, the director directly owned 185,316 shares in the company, valued at approximately $796,858.80. This trade represents a 15.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eli Samaha acquired 425,757 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of $4.27 per share, for a total transaction of $1,817,982.39. Following the completion of the acquisition, the director owned 7,774,322 shares of the company's stock, valued at approximately $33,196,354.94. This represents a 5.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 702,193 shares of company stock valued at $3,044,496 over the last ninety days. Corporate insiders own 5.60% of the company's stock.
About Stagwell
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding STGW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stagwell Inc. (NASDAQ:STGW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Stagwell, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stagwell wasn't on the list.
While Stagwell currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
