Stagwell Inc. (NASDAQ:STGW) Shares Sold by Allegheny Financial Group

Allegheny Financial Group cut its holdings in shares of Stagwell Inc. (NASDAQ:STGW) by 46.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,627 shares of the company’s stock after selling 21,176 shares during the period. Allegheny Financial Group’s holdings in Stagwell were worth $162,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Stagwell by 304.6% during the 3rd quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after acquiring an additional 101,201 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Stagwell during the third quarter valued at $229,000. Portfolio Design Labs LLC acquired a new position in shares of Stagwell in the 4th quarter valued at $271,000. Prudential Financial Inc. purchased a new position in Stagwell in the 4th quarter worth about $442,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Stagwell during the 4th quarter worth about $105,000. 35.61% of the stock is currently owned by institutional investors.

Stagwell Trading Up 2.2 %

Shares of NASDAQ:STGW opened at $5.62 on Friday. The firm has a fifty day moving average of $5.77 and a two-hundred day moving average of $6.47. 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 $4.75 and a 12-month high of $8.18. The firm has a market capitalization of $1.50 billion, a P/E ratio of 281.00 and a beta of 1.32.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STGW. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of Stagwell in a research report on Thursday, April 3rd. Benchmark reiterated a “buy” rating and set a $10.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Stagwell in a report on Thursday, April 3rd. Finally, Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $9.00 in a report on Friday, February 21st. One research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

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.