Stagwell Inc. (NASDAQ:STGW) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in Stagwell Inc. (NASDAQ:STGW) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,207,270 shares of the company’s stock after selling 22,829 shares during the period. Geode Capital Management LLC owned about 0.84% of Stagwell worth $14,528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its position in shares of Stagwell by 370.3% in 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 during the last quarter. Jane Street Group LLC boosted its holdings in shares of Stagwell by 37.1% in the 3rd quarter. Jane Street Group LLC now owns 149,506 shares of the company’s stock valued at $1,050,000 after purchasing an additional 40,439 shares during the last quarter. Barclays PLC increased its holdings in shares of Stagwell by 304.6% during the 3rd quarter. Barclays PLC now owns 134,421 shares of the company’s stock worth $944,000 after buying an additional 101,201 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Stagwell in the 3rd quarter worth $229,000. Finally, Harbor Capital Advisors Inc. grew its position in Stagwell by 2.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,266,783 shares of the company’s stock valued at $8,335,000 after acquiring an additional 25,189 shares during the period. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Stock Performance

Shares of STGW opened at $5.43 on Monday. Stagwell Inc. has a 12-month low of $4.75 and a 12-month high of $8.18. The stock has a market capitalization of $1.45 billion, a P/E ratio of 271.50 and a beta of 1.32. The firm’s 50 day moving average is $5.95 and its 200-day moving average is $6.56. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95.

Analyst Ratings Changes

Several research firms have commented on STGW. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Wells Fargo & Company raised Stagwell from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $9.00 in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Finally, Benchmark reissued a “buy” rating and set a $10.00 target price on shares of Stagwell in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Stagwell has a consensus rating of “Moderate Buy” and an average target price 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.