Huber Capital Management LLC Cuts Stock Position in Stagwell Inc. (NASDAQ:STGW)

Huber Capital Management LLC lowered its holdings in shares of Stagwell Inc. (NASDAQ:STGW) by 49.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,405 shares of the company’s stock after selling 112,241 shares during the quarter. Huber Capital Management LLC’s holdings in Stagwell were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in shares of Stagwell by 39.1% in the 4th quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock valued at $113,000 after purchasing an additional 4,807 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Stagwell by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 779,070 shares of the company’s stock worth $5,165,000 after buying an additional 42,490 shares during the period. Campbell & CO Investment Adviser LLC increased its position in Stagwell by 143.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 74,769 shares of the company’s stock valued at $496,000 after acquiring an additional 44,039 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Stagwell by 14.6% in the fourth quarter. Schroder Investment Management Group now owns 5,250,838 shares of the company’s stock valued at $34,813,000 after acquiring an additional 667,166 shares during the period. Finally, CastleKnight Management LP lifted its holdings in shares of Stagwell by 372.7% in the 4th quarter. CastleKnight Management LP now owns 1,467,760 shares of the company’s stock worth $9,731,000 after acquiring an additional 1,157,239 shares during the last quarter. 35.61% of the stock is owned by hedge funds and other institutional investors.

Stagwell Price Performance

Shares of STGW stock opened at $7.22 on Friday. Stagwell Inc. has a twelve month low of $3.83 and a twelve month high of $7.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95. The stock has a fifty day simple moving average of $6.81 and a two-hundred day simple moving average of $6.53. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -240.67 and a beta of 1.35.

Stagwell (NASDAQ:STGW) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $671.20 million during the quarter, compared to analysts’ expectations of $666.61 million. Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. On average, analysts predict that Stagwell Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STGW shares. The Goldman Sachs Group began coverage on shares of Stagwell in a report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 price target on the stock. Benchmark reaffirmed a “buy” rating and set a $8.50 target price on shares of Stagwell in a research note on Wednesday, August 14th. Needham & Company LLC restated a “buy” rating and set a $7.50 price objective on shares of Stagwell in a report on Friday, August 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $8.00 target price on shares of Stagwell in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.79.

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.