Vanguard Group Inc. Sells 175,776 Shares of Stagwell Inc. (NASDAQ:STGW)

Vanguard Group Inc. cut its holdings in Stagwell Inc. (NASDAQ:STGW - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,399,268 shares of the company's stock after selling 175,776 shares during the quarter. Vanguard Group Inc. owned approximately 2.05% of Stagwell worth $35,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners raised its position in Stagwell by 4.5% in the 4th quarter. Boston Partners now owns 2,333,593 shares of the company's stock worth $15,369,000 after purchasing an additional 101,318 shares during the last quarter. Barclays PLC boosted its position in Stagwell by 304.6% in the 3rd quarter. Barclays PLC now owns 134,421 shares of the company's stock valued at $944,000 after buying an additional 101,201 shares during the last quarter. First Pacific Advisors LP increased its stake in shares of Stagwell by 4.7% in the 4th quarter. First Pacific Advisors LP now owns 1,123,516 shares of the company's stock valued at $7,393,000 after buying an additional 50,805 shares during the period. AlphaQuest LLC bought a new stake in shares of Stagwell during the fourth quarter worth $293,000. Finally, Portfolio Design Labs LLC acquired a new position in shares of Stagwell during the fourth quarter valued at $271,000. 35.61% of the stock is currently owned by institutional investors and hedge funds.

Stagwell Trading Up 3.2 %

NASDAQ:STGW traded up $0.17 during trading hours on Friday, hitting $5.43. The stock had a trading volume of 734,287 shares, compared to its average volume of 514,601. Stagwell Inc. has a one year low of $4.75 and a one year high of $8.18. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 271.50 and a beta of 1.32. 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 business's 50 day moving average is $5.95 and its 200-day moving average is $6.57.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Benchmark reissued a "buy" rating and set a $10.00 price objective on shares of Stagwell in a report on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and issued a $9.00 price objective on shares of Stagwell in a report on Thursday, April 3rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Stagwell in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company upgraded shares of Stagwell from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $8.00 to $9.00 in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $9.08.

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.