Stagwell Inc. (NASDAQ:STGW) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 31.0% during the fourth quarter, Holdings Channel reports. The firm owned 19,468 shares of the company’s stock after buying an additional 4,609 shares during the period. Pictet Asset Management Holding SA’s holdings in Stagwell were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Barclays PLC increased its position in Stagwell by 304.6% in the 3rd quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after acquiring an additional 101,201 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Stagwell by 4.3% during the 3rd 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 period. Principal Financial Group Inc. bought a new position in Stagwell during the third quarter valued at about $229,000. Portfolio Design Labs LLC acquired a new position in Stagwell during the fourth quarter worth about $271,000. Finally, FMR LLC lifted its holdings in Stagwell by 370.3% in the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after acquiring an additional 13,252 shares during the last quarter. Institutional investors own 35.61% of the company’s stock.

Stagwell Trading Up 1.2 %

Shares of NASDAQ STGW opened at $5.18 on Friday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 259.00 and a beta of 1.32. The business has a 50 day simple moving average of $6.05 and a 200 day simple moving average of $6.62. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. Stagwell Inc. has a 52 week low of $4.75 and a 52 week high of $8.18.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on STGW shares. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of Stagwell in a research report on Thursday, April 3rd. 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. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $9.00 in a report on Friday, February 21st. One equities 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.08.

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.