Vanguard Group Inc. Has $21.34 Million Holdings in Stagwell Inc. (NASDAQ:STGW)

Vanguard Group Inc. lowered its stake in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 15.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,549,913 shares of the company's stock after selling 845,995 shares during the quarter. Vanguard Group Inc. owned approximately 1.67% of Stagwell worth $21,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in shares of Stagwell during the 2nd quarter valued at approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Stagwell during the second quarter worth about $33,000. Tower Research Capital LLC TRC lifted its holdings in Stagwell by 75.9% in the third quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company's stock worth $34,000 after acquiring an additional 2,127 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Stagwell by 40.8% in the third quarter. New York State Teachers Retirement System now owns 9,611 shares of the company's stock valued at $45,000 after acquiring an additional 2,787 shares during the period. Finally, AXQ Capital LP bought a new position in shares of Stagwell during the third quarter valued at approximately $53,000. 35.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STGW shares. TheStreet raised Stagwell from a "d+" rating to a "c-" rating in a research report on Wednesday, March 6th. Benchmark reissued a "buy" rating and set a $6.50 target price on shares of Stagwell in a research note on Friday, March 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $7.50 target price on shares of Stagwell in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.11.

Stagwell Price Performance

STGW stock traded up $0.01 on Friday, hitting $5.59. 654,994 shares of the company's stock traded hands, compared to its average volume of 518,294. Stagwell Inc. has a 1-year low of $3.83 and a 1-year high of $8.59. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -186.33 and a beta of 1.06. The stock has a fifty day moving average of $6.03 and a 200-day moving average of $5.63. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39.

Stagwell (NASDAQ:STGW - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.38%. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $683.12 million. During the same period in the prior year, the company earned $0.22 earnings per share. The firm's revenue for the quarter was down 7.5% on a year-over-year basis. On average, analysts forecast that Stagwell Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Wade Oosterman purchased 5,000 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the acquisition, the director now directly owns 128,204 shares of the company's stock, valued at $646,148.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Mark Jeffery Penn acquired 10,000 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $5.20 per share, for a total transaction of $52,000.00. Following the purchase, the chief executive officer now owns 2,480,469 shares in the company, valued at $12,898,438.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wade Oosterman acquired 5,000 shares of the company's stock in a transaction on Wednesday, February 28th. The stock was bought at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the purchase, the director now owns 128,204 shares in the company, valued at approximately $646,148.16. The disclosure for this purchase can be found here. 4.90% of the stock is owned by company insiders.

About Stagwell

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.