Invesco Ltd. Has $1.19 Million Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Invesco Ltd. increased its holdings in shares of Stagwell Inc. (NASDAQ:STGW) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,472 shares of the company’s stock after purchasing an additional 3,653 shares during the quarter. Invesco Ltd. owned approximately 0.07% of Stagwell worth $1,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC lifted its holdings in Stagwell by 304.6% during the 3rd quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after purchasing an additional 101,201 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Stagwell during the third quarter worth about $229,000. Harbor Capital Advisors Inc. boosted its position in shares of Stagwell by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,266,783 shares of the company’s stock worth $8,335,000 after acquiring an additional 25,189 shares in the last quarter. Portfolio Design Labs LLC bought a new position in Stagwell in the fourth quarter valued at approximately $271,000. Finally, New York State Common Retirement Fund lifted its position in shares of Stagwell by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 1,612,333 shares of the company’s stock worth $10,609,000 after buying an additional 6,992 shares during the last quarter. Institutional investors and hedge funds own 35.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Stagwell Trading Down 1.4 %

NASDAQ:STGW opened at $5.50 on Friday. The company has a market cap of $1.47 billion, a PE ratio of 275.00 and a beta of 1.32. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. Stagwell Inc. has a one year low of $4.75 and a one year high of $8.18. The firm has a 50-day moving average of $5.79 and a 200-day moving average of $6.48.

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.