Geode Capital Management LLC Lowers Stock Position in Stagwell Inc. (NASDAQ:STGW)

Geode Capital Management LLC lessened its position in shares of Stagwell Inc. (NASDAQ:STGW) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,230,099 shares of the company’s stock after selling 73,897 shares during the quarter. Geode Capital Management LLC’s holdings in Stagwell were worth $15,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allegheny Financial Group LTD boosted its stake in shares of 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 in the last quarter. Hsbc Holdings PLC boosted its position in Stagwell by 25.1% during the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after purchasing an additional 3,360 shares in the last quarter. Quarry LP acquired a new stake in Stagwell in the second quarter valued at approximately $29,000. The Manufacturers Life Insurance Company increased its position in shares of Stagwell by 16.1% in 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 in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Stagwell by 4.0% in the second quarter. Rhumbline Advisers now owns 142,375 shares of the company’s stock valued at $971,000 after buying an additional 5,461 shares in the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Trading Down 2.1 %

Shares of STGW stock opened at $6.64 on Monday. Stagwell Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $8.18. 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 stock’s fifty day moving average is $7.20 and its two-hundred day moving average is $6.97. The firm has a market capitalization of $1.75 billion, a P/E ratio of 22.60 and a beta of 1.44.

Analyst Upgrades and Downgrades

STGW has been the topic of a number of research analyst reports. Rosenblatt Securities lifted their price target on shares of Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 target price on shares of Stagwell in a research report on Monday, October 21st. Finally, Benchmark boosted their target price on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Stagwell presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Stagwell Company 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.