Fmr LLC Boosts Stock Position in Stagwell Inc. (NASDAQ:STGW)

Fmr LLC lifted its position in Stagwell Inc. (NASDAQ:STGW) by 370.3% in the third quarter, Holdings Channel reports. The firm owned 16,831 shares of the company’s stock after buying an additional 13,252 shares during the period. Fmr LLC’s holdings in Stagwell were worth $118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Stagwell by 14.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock valued at $3,471,000 after purchasing an additional 64,867 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Stagwell by 44.4% in the second quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock worth $197,000 after purchasing an additional 8,875 shares during the last quarter. CCG Wealth Management LLC acquired a new position in Stagwell during the 2nd quarter valued at about $3,008,000. Rhumbline Advisers grew its position in Stagwell by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 142,375 shares of the company’s stock worth $971,000 after purchasing an additional 5,461 shares during the last quarter. Finally, Allegheny Financial Group LTD lifted its position in Stagwell by 5.8% during the 2nd quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company’s stock worth $302,000 after acquiring an additional 2,423 shares during the period. Institutional investors own 35.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Stagwell Stock Down 0.9 %

Shares of STGW opened at $6.82 on Monday. The stock has a fifty day simple moving average of $7.21 and a two-hundred day simple moving average of $6.97. Stagwell Inc. has a 52-week low of $4.88 and a 52-week high of $8.18. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $1.80 billion, a PE ratio of 24.30 and a beta of 1.44.

Stagwell Profile

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.