Stagwell Inc. $STGW Stock Sold by Penn Capital Management Company LLC

Key Points

• Penn Capital Management cut its Stagwell stake by 15.9% in the third quarter, selling 375,268 shares; it held about 1.99 million shares, worth $16.2 million, after the sale.
• Analyst views were mostly positive: the average rating was “Moderate Buy” with an $11.67 price target, though Zacks downgraded the stock to “Strong Sell.” Several firms raised their targets to $12 or higher.
• Stagwell’s latest quarterly EPS of $0.34 beat estimates of $0.31, while revenue of $816 million fell short of forecasts; revenue grew 9.8% year over year.

Penn Capital Management Company LLC reduced its position in Stagwell Inc. (NASDAQ:STGW - Free Report) by 15.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,987,023 shares of the company's stock after selling 375,268 shares during the period. Penn Capital Management Company LLC owned approximately 0.81% of Stagwell worth $16,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Stagwell during the second quarter valued at $52,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Stagwell in the third quarter worth about $87,000. Tidal Investments LLC bought a new stake in shares of Stagwell during the 2nd quarter valued at about $117,000. Pictet Asset Management Holding SA grew its stake in shares of Stagwell by 34.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 20,014 shares of the company's stock valued at $126,000 after purchasing an additional 5,155 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Stagwell during the 2nd quarter valued at about $141,000. Institutional investors own 35.61% of the company's stock.

Insider Buying and Selling at Stagwell

In other news, Director Desiree Rogers sold 12,000 shares of Stagwell stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $10.78, for a total transaction of $129,360.00. Following the transaction, the director directly owned 202,984 shares of the company's stock, valued at $2,188,167.52. The trade was a 5.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on STGW shares. B. Riley Financial reaffirmed a "buy" rating and set a $12.00 price target (up from $10.00) on shares of Stagwell in a research report on Friday, October 30th. Wells Fargo & Company raised their price objective on shares of Stagwell from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. Needham & Company LLC boosted their target price on shares of Stagwell from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Zacks Research cut shares of Stagwell from a "hold" rating to a "strong sell" rating in a report on Thursday, November 5th. Finally, Rosenblatt Securities upped their target price on shares of Stagwell from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.67.

Stagwell Price Performance

NASDAQ STGW opened at $11.50 on Tuesday. The company has a market capitalization of $2.81 billion, a PE ratio of 12.94 and a beta of 1.23. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.81 and a current ratio of 0.81. The business's fifty day moving average is $8.99 and its 200 day moving average is $7.32. Stagwell Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $12.26.

Stagwell (NASDAQ:STGW - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $816.03 million during the quarter, compared to analyst estimates of $838.38 million. Stagwell had a return on equity of 29.37% and a net margin of 0.31%. Stagwell's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Sell-side analysts predict that Stagwell Inc. will post 0.91 earnings per share for the current year.

About Stagwell

Stagwell Inc is a global marketing and communications company that brings together agencies offering creative, media, digital and strategic services. Its work includes advertising, public relations, brand strategy, customer experience, market research and data analytics.

The company was formed in 2021 through the merger of Stagwell Marketing Group and MDC Partners. Its agency network serves businesses and organizations in the United States and international markets.

Stagwell is led by Mark Penn, its chairman and chief executive officer.

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