American International Group Inc. Has $376,000 Stake in Stagwell Inc. (NASDAQ:STGW)

American International Group Inc. boosted its stake in Stagwell Inc. (NASDAQ:STGW) 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

Several brokerages have recently issued reports on STGW. Craig Hallum began coverage on Stagwell in a research report on Friday, October 6th. They set a “buy” rating and a $8.00 target price for the company. Wells Fargo & Company decreased their target price on Stagwell from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 8th. The Goldman Sachs Group decreased their target price on Stagwell from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Stephens lowered Stagwell from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $11.00 to $8.00 in a research report on Wednesday, August 9th. Finally, Benchmark decreased their target price on Stagwell from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.11.

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.