Rhumbline Advisers Decreases Stock Position in Stagwell Inc. (NASDAQ:STGW)

Rhumbline Advisers decreased its holdings in Stagwell Inc. (NASDAQ:STGW) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,379 shares of the company’s stock after selling 4,068 shares during the period. Rhumbline Advisers owned about 0.05% of Stagwell worth $807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of STGW. Quarry LP purchased a new stake in Stagwell in the fourth quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stagwell in the fourth quarter worth $69,000. BNP Paribas Financial Markets purchased a new stake in Stagwell in the fourth quarter worth $75,000. Squarepoint Ops LLC purchased a new stake in Stagwell in the fourth quarter worth $96,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Stagwell in the fourth quarter worth $105,000. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Price Performance

STGW opened at $4.45 on Friday. Stagwell Inc. has a 12-month low of $4.03 and a 12-month high of $8.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.88. The business’s fifty day simple moving average is $5.02 and its 200-day simple moving average is $5.90. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -445.00 and a beta of 1.44.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings data 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 0.02% and a return on equity of 15.38%. The company had revenue of $651.74 million for the quarter, compared to the consensus estimate of $686.46 million. During the same period in the previous year, the business earned $0.16 EPS. Stagwell’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Stagwell Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at Stagwell

In related news, CEO Mark Jeffery Penn acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were bought at an average price of $4.87 per share, with a total value of $48,700.00. Following the completion of the transaction, the chief executive officer now directly owns 9,014,055 shares in the company, valued at $43,898,447.85. This trade represents a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eli Samaha acquired 425,757 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average cost of $4.27 per share, for a total transaction of $1,817,982.39. Following the transaction, the director now owns 7,774,322 shares of the company’s stock, valued at $33,196,354.94. This represents a 5.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 702,193 shares of company stock valued at $3,044,496 over the last quarter. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on STGW shares. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 target price on shares of Stagwell in a research note on Thursday, April 3rd. Benchmark lowered Stagwell from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Wells Fargo & Company reduced their target price on Stagwell from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stagwell has a consensus rating of “Moderate Buy” and an average target price of $8.60.

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.