Fmr LLC Acquires 13,252 Shares of Stagwell Inc. (NASDAQ:STGW)

Fmr LLC raised its stake in Stagwell Inc. (NASDAQ:STGW) by 370.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,831 shares of the company’s stock after acquiring an additional 13,252 shares during the quarter. Fmr LLC’s holdings in Stagwell were worth $118,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Stagwell by 14.6% in the second quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock worth $3,471,000 after purchasing an additional 64,867 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Stagwell by 44.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after buying an additional 8,875 shares during the last quarter. CCG Wealth Management LLC purchased a new position in shares of Stagwell in the 2nd quarter worth about $3,008,000. Rhumbline Advisers raised its stake in Stagwell by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 142,375 shares of the company’s stock valued at $971,000 after acquiring an additional 5,461 shares during the period. Finally, Allegheny Financial Group LTD grew its position in shares of Stagwell by 5.8% in the second quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company’s stock valued at $302,000 after purchasing an additional 2,423 shares in the last quarter. 35.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

STGW has been the subject of several research analyst reports. Benchmark lifted their price objective on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $7.50 price target on shares of Stagwell in a research report on Monday, October 21st. Finally, Rosenblatt Securities upped their price target on Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Stagwell Stock Down 0.9 %

STGW stock opened at $6.82 on Monday. Stagwell Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $8.18. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 24.30 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50-day moving average is $7.21 and its two-hundred day moving average is $6.97.

Stagwell Company 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.