Stagwell Inc. (NASDAQ:STGW) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in shares of Stagwell Inc. (NASDAQ:STGW) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 42,761 shares of the company’s stock after selling 3,228 shares during the quarter. Corebridge Financial Inc.’s holdings in Stagwell were worth $281,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Stagwell in the fourth quarter worth about $105,000. FMR LLC raised its position in Stagwell by 370.3% during the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after buying an additional 13,252 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Stagwell during the 3rd quarter worth approximately $136,000. Principal Financial Group Inc. acquired a new stake in Stagwell during the 3rd quarter valued at approximately $229,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Stagwell in the 4th quarter valued at $239,000. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Trading Down 4.3 %

Shares of STGW stock opened at $5.12 on Friday. Stagwell Inc. has a fifty-two week low of $4.75 and a fifty-two week high of $8.18. The firm has a market capitalization of $1.37 billion, a P/E ratio of 256.00 and a beta of 1.32. The stock’s fifty day moving average is $6.07 and its two-hundred day moving average is $6.64. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95.

Analyst Ratings Changes

STGW has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Stagwell in a report on Thursday, April 3rd. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $9.00 in a research note on Friday, February 21st. Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Stagwell in a research note on Thursday, April 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.08.

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.