Wealthspire Advisors LLC Cuts Position in Stagwell Inc. (NASDAQ:STGW)

Wealthspire Advisors LLC trimmed its position in shares of Stagwell Inc. (NASDAQ:STGW) by 53.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,144 shares of the company’s stock after selling 163,645 shares during the period. Wealthspire Advisors LLC owned approximately 0.05% of Stagwell worth $936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System grew its stake in shares of Stagwell by 40.8% in the third quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock worth $45,000 after acquiring an additional 2,787 shares in the last quarter. Corton Capital Inc. grew its stake in Stagwell by 8.2% during the 3rd quarter. Corton Capital Inc. now owns 36,965 shares of the company’s stock worth $173,000 after purchasing an additional 2,787 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Stagwell by 22.0% during the 3rd quarter. Principal Financial Group Inc. now owns 22,913 shares of the company’s stock worth $107,000 after purchasing an additional 4,135 shares during the period. HighTower Advisors LLC raised its position in Stagwell by 0.7% in the 3rd quarter. HighTower Advisors LLC now owns 623,894 shares of the company’s stock valued at $2,926,000 after purchasing an additional 4,345 shares in the last quarter. Finally, Parkside Financial Bank & Trust purchased a new position in shares of Stagwell in the 4th quarter valued at about $30,000. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on STGW. B. Riley upped their target price on shares of Stagwell from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Benchmark lifted their price objective on shares of Stagwell from $6.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $7.50 target price on shares of Stagwell in a research note on Thursday, May 2nd. Finally, TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.06.

Insider Activity at Stagwell

In other Stagwell news, Director Wade Oosterman bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the director now owns 128,204 shares of the company’s stock, valued at $646,148.16. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mark Jeffery Penn acquired 10,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was bought at an average price of $5.20 per share, for a total transaction of $52,000.00. Following the transaction, the chief executive officer now owns 2,480,469 shares in the company, valued at $12,898,438.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wade Oosterman bought 5,000 shares of Stagwell stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average price of $5.04 per share, with a total value of $25,200.00. Following the purchase, the director now directly owns 128,204 shares in the company, valued at approximately $646,148.16. The disclosure for this purchase can be found here. 4.90% of the stock is owned by insiders.

Stagwell Stock Performance

Shares of STGW stock traded up $0.06 during mid-day trading on Friday, hitting $6.97. 19,530 shares of the stock were exchanged, compared to its average volume of 540,220. The stock’s fifty day simple moving average is $5.93 and its two-hundred day simple moving average is $5.86. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.75 and a current ratio of 0.75. Stagwell Inc. has a 12-month low of $3.83 and a 12-month high of $8.59. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -230.33 and a beta of 1.09.

Stagwell (NASDAQ:STGW) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Stagwell had a positive return on equity of 7.35% and a negative net margin of 0.16%. The firm had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $683.12 million. During the same quarter in the prior year, the business earned $0.22 EPS. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, analysts forecast that Stagwell Inc. will post 0.75 EPS for the current year.

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.