American Century Companies Inc. Increases Stake in Stagwell Inc. (NASDAQ:STGW)

American Century Companies Inc. raised its holdings in shares of Stagwell Inc. (NASDAQ:STGW) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,520 shares of the company’s stock after buying an additional 17,261 shares during the quarter. American Century Companies Inc. owned about 0.06% of Stagwell worth $1,056,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its stake in Stagwell by 370.3% during the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after acquiring an additional 13,252 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Stagwell during the 3rd quarter worth approximately $136,000. Principal Financial Group Inc. purchased a new stake in shares of Stagwell in the third quarter valued at approximately $229,000. Victory Capital Management Inc. increased its holdings in shares of Stagwell by 185.7% in the fourth quarter. Victory Capital Management Inc. now owns 38,735 shares of the company’s stock valued at $255,000 after purchasing an additional 25,177 shares during the last quarter. Finally, Portfolio Design Labs LLC purchased a new position in Stagwell during the fourth quarter worth approximately $271,000. 35.61% of the stock is currently owned by institutional investors and hedge funds.

Stagwell Price Performance

Shares of STGW opened at $5.12 on Friday. The firm has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $6.64. The stock has a market cap of $1.37 billion, a PE ratio of 256.00 and a beta of 1.32. Stagwell Inc. has a 1-year low of $4.75 and a 1-year high of $8.18. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95.

Analysts Set New Price Targets

Several analysts have issued reports on STGW shares. Rosenblatt Securities restated a “buy” rating and issued a $10.00 target price on shares of Stagwell in a report on Thursday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Wells Fargo & Company upgraded shares of Stagwell from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $9.00 in a report on Friday, February 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $10.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.08.

Stagwell 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.