Creative Planning Raises Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Creative Planning boosted its holdings in Stagwell Inc. (NASDAQ:STGW) by 88.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,074 shares of the company’s stock after buying an additional 18,863 shares during the quarter. Creative Planning’s holdings in Stagwell were worth $281,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in shares of Stagwell during the 2nd quarter valued at about $29,000. Hsbc Holdings PLC grew its stake in shares of Stagwell by 25.1% during the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after purchasing an additional 3,360 shares during the period. SG Americas Securities LLC bought a new stake in shares of Stagwell during the 3rd quarter valued at about $153,000. Concurrent Investment Advisors LLC grew its stake in shares of Stagwell by 44.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after acquiring an additional 8,875 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Stagwell by 16.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock valued at $243,000 after acquiring an additional 4,961 shares during the period. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STGW. Benchmark boosted their price objective on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $8.00 price objective on shares of Stagwell in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stagwell has a consensus rating of “Moderate Buy” and a consensus target price of $8.30.

Stagwell Stock Up 7.1 %

NASDAQ STGW opened at $7.85 on Friday. The stock’s 50 day moving average is $6.90 and its 200 day moving average is $6.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95. Stagwell Inc. has a 12 month low of $4.25 and a 12 month high of $7.91. The stock has a market cap of $2.07 billion, a PE ratio of -392.50 and a beta of 1.35.

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.