Strs Ohio Has $683,000 Stake in Stagwell Inc. (NASDAQ:STGW)

Strs Ohio decreased its position in Stagwell Inc. (NASDAQ:STGW) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 103,100 shares of the company’s stock after selling 3,600 shares during the period. Strs Ohio’s holdings in Stagwell were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in STGW. Cerity Partners LLC acquired a new stake in Stagwell during the fourth quarter worth approximately $448,000. Allspring Global Investments Holdings LLC grew its position in Stagwell by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 434,476 shares of the company’s stock worth $2,881,000 after buying an additional 40,516 shares in the last quarter. My Personal CFO LLC grew its position in Stagwell by 153.5% during the fourth quarter. My Personal CFO LLC now owns 1,333,440 shares of the company’s stock worth $8,841,000 after buying an additional 807,505 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in Stagwell by 10.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 124,617 shares of the company’s stock worth $826,000 after buying an additional 12,000 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Stagwell by 52.5% during the fourth quarter. SG Americas Securities LLC now owns 29,000 shares of the company’s stock worth $192,000 after buying an additional 9,978 shares in the last quarter. Institutional investors and hedge funds own 35.61% of the company’s stock.

Stagwell Stock Down 0.5 %

Shares of STGW opened at $6.05 on Friday. Stagwell Inc. has a 52 week low of $3.83 and a 52 week high of $8.59. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -201.67 and a beta of 1.06. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a fifty day moving average of $5.87 and a 200-day moving average of $5.70.

Stagwell (NASDAQ:STGW) last announced its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $654.90 million for the quarter, compared to the consensus estimate of $683.12 million. Stagwell had a positive return on equity of 7.38% and a negative net margin of 0.09%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Stagwell Inc. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

STGW has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $7.50 price target on shares of Stagwell in a research report on Tuesday, April 16th. TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a research note on Wednesday, March 6th. Finally, Benchmark reiterated a “buy” rating and issued a $6.50 price target on shares of Stagwell in a research note on Friday, March 15th. 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.11.

Insiders Place Their Bets

In other Stagwell news, CEO Mark Jeffery Penn purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the acquisition, the chief executive officer now owns 2,480,469 shares in the company, valued at approximately $12,898,438.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Wade Oosterman bought 5,000 shares of Stagwell stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $5.04 per share, for a total transaction of $25,200.00. Following the purchase, the director now directly owns 128,204 shares in the company, valued at approximately $646,148.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Jeffery Penn bought 10,000 shares of Stagwell stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average price of $5.20 per share, with a total value of $52,000.00. Following the completion of the purchase, the chief executive officer now owns 2,480,469 shares in the company, valued at $12,898,438.80. The disclosure for this purchase can be found here. Company insiders own 4.90% of the company’s stock.

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)-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.