Nuveen Asset Management LLC Cuts Stock Position in Stagwell Inc. (NASDAQ:STGW)

Nuveen Asset Management LLC lessened its stake in Stagwell Inc. (NASDAQ:STGWFree Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 294,119 shares of the company’s stock after selling 20,305 shares during the period. Nuveen Asset Management LLC owned 0.11% of Stagwell worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners grew its stake in shares of Stagwell by 4.5% during the fourth quarter. Boston Partners now owns 2,333,593 shares of the company’s stock worth $15,369,000 after acquiring an additional 101,318 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Stagwell by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,730,153 shares of the company’s stock worth $11,385,000 after acquiring an additional 51,341 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Stagwell by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 1,612,333 shares of the company’s stock worth $10,609,000 after acquiring an additional 6,992 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Stagwell by 2,968.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,193,355 shares of the company’s stock worth $7,852,000 after acquiring an additional 1,154,458 shares during the last quarter. Finally, First Pacific Advisors LP grew its stake in shares of Stagwell by 4.7% during the fourth quarter. First Pacific Advisors LP now owns 1,123,516 shares of the company’s stock worth $7,393,000 after acquiring an additional 50,805 shares during the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Wall Street Analysts Forecast Growth

STGW has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of Stagwell in a report on Thursday, April 3rd. Wells Fargo & Company decreased their target price on Stagwell from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Stagwell in a report on Thursday, April 3rd. Finally, Benchmark downgraded Stagwell from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Stagwell has an average rating of “Moderate Buy” and a consensus price target of $8.60.

View Our Latest Report on STGW

Insider Buying and Selling at Stagwell

In related news, CEO Mark Jeffery Penn purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was bought at an average cost of $4.87 per share, with a total value of $48,700.00. Following the completion of the acquisition, the chief executive officer now owns 9,014,055 shares of the company’s stock, valued at $43,898,447.85. The trade was a 0.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Stagwell Trading Up 0.7%

Stagwell stock opened at $4.19 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. Stagwell Inc. has a 52 week low of $4.03 and a 52 week high of $8.18. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -419.00 and a beta of 1.51. The stock has a 50-day moving average price of $5.27 and a 200 day moving average price of $6.19.

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

Stagwell Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stagwell (NASDAQ:STGW)

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