Bank of Montreal Can Buys New Position in Stagwell Inc. (NASDAQ:STGW)

Bank of Montreal Can bought a new stake in Stagwell Inc. (NASDAQ:STGW) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 58,758 shares of the company’s stock, valued at approximately $461,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its stake in Stagwell by 8.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 18,579,770 shares of the company’s stock valued at $137,862,000 after purchasing an additional 1,495,960 shares in the last quarter. Penn Capital Management Company LLC bought a new position in Stagwell in the first quarter valued at approximately $10,541,000. RK Capital Management LLC grew its stake in Stagwell by 177.3% in the first quarter. RK Capital Management LLC now owns 1,683,000 shares of the company’s stock valued at $12,488,000 after purchasing an additional 1,076,100 shares in the last quarter. Select Equity Group L.P. grew its stake in Stagwell by 19.1% in the first quarter. Select Equity Group L.P. now owns 6,706,120 shares of the company’s stock valued at $49,759,000 after purchasing an additional 1,075,851 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Stagwell by 1,951.5% in the first quarter. New York State Common Retirement Fund now owns 980,044 shares of the company’s stock valued at $7,272,000 after purchasing an additional 932,272 shares in the last quarter. Institutional investors and hedge funds own 97.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on Stagwell from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 6th. B. Riley reduced their target price on Stagwell from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Benchmark reduced their target price on Stagwell from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Craig Hallum assumed coverage on Stagwell in a research note on Friday, October 6th. They set a “buy” rating and a $8.00 target price for the company. Finally, Morgan Stanley reduced their target price on Stagwell from $9.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.11.

Stagwell Stock Performance

STGW opened at $5.05 on Friday. The business has a fifty day simple moving average of $4.57 and a 200 day simple moving average of $5.79. The company has a market capitalization of $1.38 billion, a PE ratio of -56.10 and a beta of 0.98. Stagwell Inc. has a 1 year low of $3.83 and a 1 year high of $9.23. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.83 and a quick ratio of 0.83.

Insider Buying and Selling at Stagwell

In related news, President Jay Leveton acquired 7,540 shares of the company’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $4.89 per share, with a total value of $36,870.60. Following the acquisition, the president now directly owns 491,825 shares of the company’s stock, valued at $2,405,024.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.90% of the company’s stock.

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)-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.