Stagwell Inc. (NASDAQ:STGW) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in Stagwell Inc. (NASDAQ:STGW) by 16.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,681 shares of the company’s stock after buying an additional 4,961 shares during the period. The Manufacturers Life Insurance Company’s holdings in Stagwell were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its position in shares of Stagwell by 3.4% in the second quarter. Sei Investments Co. now owns 181,966 shares of the company’s stock valued at $1,241,000 after buying an additional 5,918 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Stagwell by 25.1% in the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after buying an additional 3,360 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Stagwell by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock valued at $10,344,000 after buying an additional 127,099 shares during the last quarter. American Century Companies Inc. raised its position in shares of Stagwell by 15.7% in the second quarter. American Century Companies Inc. now owns 122,589 shares of the company’s stock valued at $836,000 after buying an additional 16,600 shares during the last quarter. Finally, First Pacific Advisors LP increased its position in Stagwell by 1.8% during the second quarter. First Pacific Advisors LP now owns 994,033 shares of the company’s stock worth $6,779,000 after purchasing an additional 18,050 shares during the last quarter. Institutional investors and hedge funds own 35.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on STGW. Rosenblatt Securities reaffirmed a “buy” rating and set a $8.00 price target on shares of Stagwell in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 price target on shares of Stagwell in a research report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and set a $8.50 price target on shares of Stagwell in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group began coverage on shares of Stagwell in a research report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.10.

Stagwell Price Performance

STGW opened at $6.86 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.95. Stagwell Inc. has a 52-week low of $3.83 and a 52-week high of $7.50. The company has a 50 day moving average of $6.96 and a two-hundred day moving average of $6.69. The company has a market cap of $1.85 billion, a P/E ratio of -228.67 and a beta of 1.34.

Stagwell (NASDAQ:STGW) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $671.20 million for the quarter, compared to analysts’ expectations of $666.61 million. Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. Stagwell’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 earnings per share. On average, analysts expect that Stagwell Inc. will post 0.59 earnings per share for the current year.

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.