State Street Corp Has $13.77 Million Holdings in Stagwell Inc. (NASDAQ:STGW)

State Street Corp lowered its stake in Stagwell Inc. (NASDAQ:STGW) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,961,021 shares of the company’s stock after selling 22,970 shares during the period. State Street Corp owned approximately 0.74% of Stagwell worth $13,766,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in STGW. Dimensional Fund Advisors LP lifted its holdings in Stagwell by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after purchasing an additional 127,099 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Stagwell by 123.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock worth $8,716,000 after buying an additional 685,164 shares during the period. First Pacific Advisors LP grew its stake in Stagwell by 1.8% in the 2nd quarter. First Pacific Advisors LP now owns 994,033 shares of the company’s stock valued at $6,779,000 after buying an additional 18,050 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Stagwell by 14.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock worth $3,471,000 after acquiring an additional 64,867 shares during the period. Finally, CCG Wealth Management LLC acquired a new position in Stagwell during the 2nd quarter worth $3,008,000. Institutional investors own 35.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on STGW shares. Rosenblatt Securities raised their target price on Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 target price on shares of Stagwell in a research report on Monday, October 21st. Finally, Benchmark increased their price target on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Stagwell Stock Performance

NASDAQ:STGW opened at $6.68 on Wednesday. The firm has a market capitalization of $1.76 billion, a PE ratio of 24.30 and a beta of 1.44. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. Stagwell Inc. has a 12-month low of $4.88 and a 12-month high of $8.18. The firm has a 50-day moving average price of $7.21 and a 200 day moving average price of $6.96.

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.