Stagwell Inc. (NASDAQ:STGW) Shares Sold by Allworth Financial LP

Allworth Financial LP reduced its stake in Stagwell Inc. (NASDAQ:STGW) by 40.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,021 shares of the company’s stock after selling 20,000 shares during the period. Allworth Financial LP’s holdings in Stagwell were worth $198,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Stagwell by 304.6% in the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Stagwell by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 207,100 shares of the company’s stock valued at $1,454,000 after purchasing an additional 8,579 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Stagwell in the third quarter valued at approximately $229,000. Portfolio Design Labs LLC purchased a new position in Stagwell in the fourth quarter valued at approximately $271,000. Finally, FMR LLC increased its stake in Stagwell by 370.3% in the third quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after purchasing an additional 13,252 shares during the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

Stagwell Price Performance

Shares of NASDAQ STGW opened at $6.30 on Friday. 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 fifty day moving average price of $6.48 and a 200 day moving average price of $6.86. Stagwell Inc. has a 1-year low of $4.88 and a 1-year high of $8.18. The company has a market cap of $1.66 billion, a PE ratio of 20.50 and a beta of 1.44.

Analysts Set New Price Targets

Several brokerages have commented on STGW. Wells Fargo & Company upgraded shares of Stagwell from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $8.00 to $9.00 in a research note on Friday. Benchmark raised their target price on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $9.00 target price on shares of Stagwell in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.58.

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.