Charles Schwab Investment Management Inc. Sells 42,864 Shares of Stagwell Inc. (NASDAQ:STGW)

Charles Schwab Investment Management Inc. lowered its holdings in Stagwell Inc. (NASDAQ:STGW) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 793,961 shares of the company’s stock after selling 42,864 shares during the period. Charles Schwab Investment Management Inc. owned about 0.30% of Stagwell worth $5,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Quarry LP acquired a new stake in Stagwell in the second quarter valued at $29,000. Hsbc Holdings PLC lifted its stake in Stagwell by 25.1% in the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after acquiring an additional 3,360 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Stagwell in the third quarter valued at $136,000. SG Americas Securities LLC acquired a new stake in Stagwell in the third quarter valued at $153,000. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Stagwell by 44.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock worth $197,000 after buying an additional 8,875 shares during the last quarter. Institutional investors own 35.61% of the company’s stock.

Stagwell Stock Performance

NASDAQ STGW opened at $7.34 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $1.93 billion, a P/E ratio of 25.40 and a beta of 1.44. Stagwell Inc. has a 12-month low of $4.88 and a 12-month high of $8.18. The firm has a 50-day moving average price of $7.21 and a two-hundred day moving average price of $6.96.

Analyst Upgrades and Downgrades

STGW has been the subject of a number of research reports. Benchmark raised their target price on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $7.50 target price on shares of Stagwell in a research note on Monday, October 21st. Finally, Rosenblatt Securities raised their target price on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

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.