Jane Street Group LLC Has $1.05 Million Position in Stagwell Inc. (NASDAQ:STGW)

Jane Street Group LLC grew its holdings in shares of Stagwell Inc. (NASDAQ:STGW) by 37.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,506 shares of the company’s stock after acquiring an additional 40,439 shares during the period. Jane Street Group LLC owned 0.06% of Stagwell worth $1,050,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in Stagwell during the 2nd quarter worth about $29,000. Paloma Partners Management Co acquired a new stake in shares of Stagwell in the 3rd quarter valued at about $77,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Stagwell by 59.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock valued at $114,000 after buying an additional 6,058 shares during the period. Hsbc Holdings PLC grew its stake in shares of Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after buying an additional 3,360 shares during the period. Finally, FMR LLC grew its stake in shares of Stagwell by 370.3% in the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after buying an additional 13,252 shares during the period. 35.61% of the stock is currently owned by institutional investors and hedge funds.

Stagwell Price Performance

Shares of STGW opened at $6.60 on Tuesday. The stock has a market cap of $1.74 billion, a PE ratio of 22.60 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. Stagwell Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $8.18. The firm’s 50-day simple moving average is $7.20 and its two-hundred day simple moving average is $6.97.

Analyst Upgrades and Downgrades

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

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.