Russell Investments Group Ltd. Sells 8,775 Shares of Stagwell Inc. (NASDAQ:STGW)

Russell Investments Group Ltd. decreased its position in Stagwell Inc. (NASDAQ:STGW) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 289,157 shares of the company’s stock after selling 8,775 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Stagwell worth $1,903,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new position in shares of Stagwell in the fourth quarter worth about $105,000. FMR LLC lifted its position in shares of Stagwell by 370.3% during the third quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after acquiring an additional 13,252 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Stagwell by 31.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,468 shares of the company’s stock worth $128,000 after acquiring an additional 4,609 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Stagwell in the third quarter valued at $229,000. Finally, Fox Run Management L.L.C. purchased a new stake in Stagwell during the 4th quarter worth about $239,000. 35.61% of the stock is owned by hedge funds and other institutional investors.

Stagwell Price Performance

Shares of NASDAQ:STGW opened at $5.43 on Friday. Stagwell Inc. has a one year low of $4.75 and a one 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. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 271.50 and a beta of 1.32. The company’s fifty day moving average price is $5.95 and its 200-day moving average price is $6.56.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STGW shares. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Stagwell in a report on Thursday, April 3rd. Wells Fargo & Company upgraded shares of Stagwell from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $9.00 in a research report on Friday, February 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, Stagwell currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.08.

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.