California State Teachers Retirement System grew its holdings in shares of Stagwell Inc. (NASDAQ:STGW – Free Report) by 9.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,949 shares of the company’s stock after buying an additional 9,392 shares during the quarter. California State Teachers Retirement System’s holdings in Stagwell were worth $808,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Stagwell by 75.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company’s stock worth $34,000 after buying an additional 2,127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Stagwell in the second quarter valued at approximately $33,000. Ensign Peak Advisors Inc bought a new position in shares of Stagwell during the 3rd quarter worth approximately $60,000. Boothbay Fund Management LLC bought a new stake in Stagwell in the 4th quarter valued at $68,000. Finally, SG Americas Securities LLC acquired a new stake in Stagwell during the 1st quarter valued at $96,000. 97.86% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
STGW has been the topic of several research reports. Rosenblatt Securities decreased their price objective on shares of Stagwell from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Wells Fargo & Company decreased their price objective on shares of Stagwell from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 8th. Stephens downgraded shares of Stagwell from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $11.00 to $8.00 in a report on Wednesday, August 9th. Morgan Stanley started coverage on shares of Stagwell in a research note on Wednesday, June 28th. They issued an “equal weight” rating and a $9.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Stagwell in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.
Insiders Place Their Bets
In other Stagwell news, President Jay Leveton acquired 7,540 shares of Stagwell stock in a transaction dated Monday, August 21st. The stock was purchased at an average cost of $4.89 per share, for a total transaction of $36,870.60. Following the completion of the acquisition, the president now directly owns 491,825 shares of the company’s stock, valued at $2,405,024.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.90% of the company’s stock.
Stagwell Price Performance
Shares of NASDAQ STGW opened at $5.51 on Monday. Stagwell Inc. has a twelve month low of $4.67 and a twelve month high of $9.23. The firm has a fifty day simple moving average of $6.43 and a 200 day simple moving average of $6.64. The company has a market capitalization of $1.48 billion, a PE ratio of -275.50 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.95.
Stagwell (NASDAQ:STGW – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The business had revenue of $632.27 million for the quarter, compared to analyst estimates of $658.88 million. On average, sell-side analysts forecast that Stagwell Inc. will post 0.7 EPS for the current year.
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)-based communications technology, cookie-less data platforms for audience targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.
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