Allspring Global Investments Holdings LLC decreased its stake in Stagwell Inc. (NASDAQ:STGW - Get Rating) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 768,432 shares of the company's stock after selling 127,700 shares during the period. Allspring Global Investments Holdings LLC owned about 0.26% of Stagwell worth $5,340,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds have also added to or reduced their stakes in the company. My Personal CFO LLC acquired a new position in Stagwell in the 3rd quarter valued at approximately $10,314,000. Janney Montgomery Scott LLC increased its position in Stagwell by 384.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 198,785 shares of the company's stock valued at $1,382,000 after acquiring an additional 157,785 shares during the period. Clarius Group LLC increased its position in Stagwell by 281.6% in the 3rd quarter. Clarius Group LLC now owns 135,511 shares of the company's stock valued at $942,000 after acquiring an additional 100,000 shares during the period. Deutsche Bank AG increased its position in Stagwell by 0.3% in the 2nd quarter. Deutsche Bank AG now owns 1,090,257 shares of the company's stock valued at $5,920,000 after acquiring an additional 3,447 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Stagwell in the 2nd quarter valued at approximately $111,000. Institutional investors own 38.00% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. B. Riley assumed coverage on shares of Stagwell in a research report on Tuesday, November 15th. They issued a "buy" rating and a $13.00 price target for the company. Stephens assumed coverage on shares of Stagwell in a research report on Monday, November 14th. They set an "overweight" rating and a $10.00 price objective for the company.
Stagwell Trading Up 0.7 %
STGW opened at $7.11 on Tuesday. Stagwell Inc. has a twelve month low of $4.80 and a twelve month high of $8.28. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The company has a fifty day moving average of $7.02 and a 200-day moving average of $6.81. The stock has a market cap of $2.10 billion, a PE ratio of 26.33 and a beta of 0.99.
Stagwell (NASDAQ:STGW - Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $663.79 million for the quarter. Stagwell had a net margin of 1.33% and a return on equity of 5.87%. On average, sell-side analysts predict that Stagwell Inc. will post 0.56 EPS for the current year.
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, Media 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 cookie-less data platforms for audience targeting and activation, software tools for e-commerce applications, and text messaging applications for consumer engagement.
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