Handelsbanken Fonder AB Takes $71,000 Position in Stagwell Inc. (NASDAQ:STGW)

Handelsbanken Fonder AB purchased a new stake in Stagwell Inc. (NASDAQ:STGW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,700 shares of the company’s stock, valued at approximately $71,000.

Other large investors also recently made changes to their positions in the company. New York State Teachers Retirement System raised its stake in Stagwell by 40.8% during the 3rd quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock worth $45,000 after buying an additional 2,787 shares during the period. AXQ Capital LP acquired a new stake in Stagwell during the 3rd quarter worth $53,000. Laurion Capital Management LP acquired a new stake in Stagwell during the 3rd quarter worth $59,000. SG Americas Securities LLC acquired a new stake in Stagwell during the 3rd quarter worth $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Stagwell by 31.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,141 shares of the company’s stock worth $94,000 after buying an additional 4,833 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

Insider Activity

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

Stagwell Price Performance

Shares of NASDAQ STGW opened at $6.90 on Friday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -230.00 and a beta of 1.09. The business has a 50-day moving average of $5.83 and a 200-day moving average of $5.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.75 and a quick ratio of 0.75. Stagwell Inc. has a fifty-two week low of $3.83 and a fifty-two week high of $8.59.

Stagwell (NASDAQ:STGW) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $683.12 million. Stagwell had a negative net margin of 0.16% and a positive return on equity of 7.35%. Stagwell’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, sell-side analysts predict that Stagwell Inc. will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on STGW shares. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research note on Thursday. Benchmark increased their target price on Stagwell from $6.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley increased their target price on Stagwell from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday. Finally, TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.06.

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.