Stagwell Inc. (NASDAQ:STGW) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its stake in Stagwell Inc. (NASDAQ:STGW) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 950,179 shares of the company’s stock after acquiring an additional 185,103 shares during the quarter. Northern Trust Corp owned about 0.36% of Stagwell worth $6,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Portfolio Design Labs LLC acquired a new stake in shares of Stagwell during the 4th quarter valued at approximately $271,000. Prudential Financial Inc. bought a new stake in Stagwell in the fourth quarter worth about $442,000. Principal Financial Group Inc. increased its stake in Stagwell by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 34,935 shares of the company’s stock worth $230,000 after purchasing an additional 2,378 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Stagwell during the 4th quarter valued at about $105,000. Finally, MetLife Investment Management LLC grew its stake in Stagwell by 19.7% during the 4th quarter. MetLife Investment Management LLC now owns 51,630 shares of the company’s stock valued at $340,000 after acquiring an additional 8,482 shares in the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

Stagwell Trading Down 2.1%

NASDAQ:STGW opened at $5.19 on Tuesday. Stagwell Inc. has a fifty-two week low of $4.69 and a fifty-two week 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 stock has a market capitalization of $1.38 billion, a PE ratio of -519.00 and a beta of 1.51. The business’s 50-day simple moving average is $5.58 and its 200-day simple moving average is $6.38.

Stagwell (NASDAQ:STGW) last released its earnings results on Thursday, May 8th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.05). The firm had revenue of $651.74 million during the quarter, compared to the consensus estimate of $686.46 million. Stagwell had a net margin of 0.01% and a return on equity of 8.03%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. Sell-side analysts expect that Stagwell Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STGW. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Stagwell in a report on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on Stagwell from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Benchmark lowered Stagwell from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Stagwell has an average rating of “Moderate Buy” and a consensus price target of $8.60.

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.