Squarepoint Ops LLC Purchases New Holdings in Stagwell Inc. (NASDAQ:STGW)

Squarepoint Ops LLC purchased a new stake in shares of Stagwell Inc. (NASDAQ:STGW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,625 shares of the company’s stock, valued at approximately $96,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Portfolio Design Labs LLC bought a new position in Stagwell during the fourth quarter valued at $271,000. Principal Financial Group Inc. grew its holdings in Stagwell by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 34,935 shares of the company’s stock valued at $230,000 after purchasing an additional 2,378 shares during the period. New York State Common Retirement Fund grew its holdings in 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 valued at $10,609,000 after purchasing an additional 6,992 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Stagwell by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 800,703 shares of the company’s stock valued at $5,269,000 after purchasing an additional 6,742 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Stagwell by 185.7% in the fourth quarter. Victory Capital Management Inc. now owns 38,735 shares of the company’s stock worth $255,000 after acquiring an additional 25,177 shares during the period. 35.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Mark Jeffery Penn bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were acquired at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the purchase, the chief executive officer now directly owns 9,014,055 shares of the company’s stock, valued at approximately $43,898,447.85. The trade was a 0.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charlene Barshefsky purchased 24,350 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was bought at an average cost of $4.30 per share, with a total value of $104,705.00. Following the acquisition, the director now owns 185,316 shares of the company’s stock, valued at approximately $796,858.80. The trade was a 15.13% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 702,193 shares of company stock worth $3,044,496. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Stagwell Stock Performance

Shares of STGW opened at $4.55 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The business’s 50 day moving average price is $5.14 and its 200-day moving average price is $6.08. Stagwell Inc. has a 52 week low of $4.03 and a 52 week high of $8.18. The stock has a market cap of $1.22 billion, a P/E ratio of -455.00 and a beta of 1.44.

Stagwell (NASDAQ:STGW) last announced its earnings results on Thursday, May 8th. The company reported $0.12 earnings per share 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 for the quarter, compared to analysts’ expectations of $686.46 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Stagwell’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Stagwell Inc. will post 0.59 earnings per share for the current fiscal year.

Stagwell Company 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.