Verition Fund Management LLC Decreases Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Verition Fund Management LLC lowered its position in shares of Stagwell Inc. (NASDAQ:STGW) by 29.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,078 shares of the company’s stock after selling 12,232 shares during the period. Verition Fund Management LLC’s holdings in Stagwell were worth $204,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Stagwell by 14.6% in the second quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock worth $3,471,000 after purchasing an additional 64,867 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Stagwell by 44.4% in 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. CCG Wealth Management LLC purchased a new position in shares of Stagwell during the second quarter valued at approximately $3,008,000. Rhumbline Advisers raised its holdings in shares of Stagwell by 4.0% during the second quarter. Rhumbline Advisers now owns 142,375 shares of the company’s stock valued at $971,000 after acquiring an additional 5,461 shares in the last quarter. Finally, Allegheny Financial Group LTD lifted its stake in Stagwell by 5.8% in the second quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company’s stock worth $302,000 after acquiring an additional 2,423 shares during the period. Institutional investors own 35.61% of the company’s stock.

Analyst Ratings Changes

STGW has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research report on Monday, October 21st. Benchmark increased their price target 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. Finally, Rosenblatt Securities raised their price objective on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stagwell presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Stagwell Stock Down 0.7 %

NASDAQ:STGW opened at $7.29 on Monday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50-day moving average price is $7.21 and its 200-day moving average price is $6.96. The company has a market capitalization of $1.92 billion, a PE ratio of 24.47 and a beta of 1.44. Stagwell Inc. has a 1-year low of $4.88 and a 1-year high of $8.18.

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)-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.