MetLife Investment Management LLC Sells 9,474 Shares of Stagwell Inc. (NASDAQ:STGW)

MetLife Investment Management LLC reduced its position in shares of Stagwell Inc. (NASDAQ:STGW) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,148 shares of the company’s stock after selling 9,474 shares during the period. MetLife Investment Management LLC’s holdings in Stagwell were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its holdings in Stagwell by 1.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company’s stock valued at $860,000 after buying an additional 1,500 shares during the last quarter. Allegheny Financial Group LTD raised its stake in Stagwell by 5.8% during the 2nd quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company’s stock valued at $302,000 after purchasing an additional 2,423 shares during the last quarter. Hsbc Holdings PLC grew its position in Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after purchasing an additional 3,360 shares during the last quarter. Quarry LP bought a new position in shares of Stagwell during the 2nd quarter worth about $29,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Stagwell by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock valued at $243,000 after buying an additional 4,961 shares during the last quarter. 35.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on STGW. Benchmark upped their price target on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities raised their target price on Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Stagwell in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.50.

Stagwell Stock Performance

Shares of STGW stock opened at $7.62 on Monday. The stock has a 50-day moving average of $7.18 and a 200-day moving average of $6.95. Stagwell Inc. has a one year low of $4.88 and a one year high of $8.18. The stock has a market cap of $2.01 billion, a PE ratio of 26.47 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95.

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.