Geode Capital Management LLC Decreases Stock Position in Stagwell Inc. (NASDAQ:STGW)

Geode Capital Management LLC decreased its position in shares of Stagwell Inc. (NASDAQ:STGW) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,230,099 shares of the company’s stock after selling 73,897 shares during the period. Geode Capital Management LLC owned approximately 0.85% of Stagwell worth $15,659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in STGW. Quarry LP bought a new position in Stagwell during the second quarter valued at approximately $29,000. Paloma Partners Management Co bought a new stake in Stagwell in the 3rd quarter worth approximately $77,000. Hsbc Holdings PLC raised its holdings in shares of Stagwell by 25.1% during the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after acquiring an additional 3,360 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Stagwell by 59.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock valued at $114,000 after acquiring an additional 6,058 shares during the last quarter. Finally, FMR LLC increased its position in Stagwell by 370.3% in the third quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after purchasing an additional 13,252 shares during the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Trading Down 2.1 %

Shares of NASDAQ:STGW opened at $6.64 on Monday. The company has a market capitalization of $1.75 billion, a PE ratio of 22.60 and a beta of 1.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The business’s fifty day simple moving average is $7.20 and its 200-day simple moving average is $6.97. Stagwell Inc. has a 12-month low of $4.88 and a 12-month high of $8.18.

Analyst Ratings Changes

A number of equities analysts have recently commented on STGW shares. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 target price on shares of Stagwell in a report on Monday, October 21st. Rosenblatt Securities increased their price target on Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Benchmark boosted their price objective on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Stagwell presently has an average rating of “Moderate Buy” and an average price target of $8.50.

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.