American International Group Inc. boosted its stake in Stagwell Inc. (NASDAQ:STGW – Free Report) by 40.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,111 shares of the company’s stock after buying an additional 15,084 shares during the quarter. American International Group Inc.’s holdings in Stagwell were worth $376,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of STGW. C M Bidwell & Associates Ltd. purchased a new stake in Stagwell in the 1st quarter valued at $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Stagwell in the 2nd quarter valued at $33,000. Tower Research Capital LLC TRC raised its position in Stagwell by 75.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company’s stock valued at $34,000 after buying an additional 2,127 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in Stagwell in the 2nd quarter valued at $49,000. Finally, Acadian Asset Management LLC purchased a new stake in Stagwell in the 1st quarter valued at $55,000. 97.86% of the stock is owned by hedge funds and other institutional investors.
Stagwell Stock Up 11.2 %
STGW stock opened at $5.05 on Monday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -56.10 and a beta of 0.98. Stagwell Inc. has a fifty-two week low of $3.83 and a fifty-two week high of $9.23. The stock has a fifty day moving average of $4.57 and a 200-day moving average of $5.78.
Wall Street Analysts Forecast Growth
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)-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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