Corton Capital Inc. Cuts Stock Holdings in Stagwell Inc. $STGW

Corton Capital Inc. trimmed its position in shares of Stagwell Inc. (NASDAQ:STGW) by 54.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,569 shares of the company’s stock after selling 15,269 shares during the quarter. Corton Capital Inc.’s holdings in Stagwell were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. ABLE Financial Group LLC purchased a new position in shares of Stagwell in the 2nd quarter worth about $10,001,000. Janney Montgomery Scott LLC purchased a new stake in Stagwell during the second quarter valued at about $912,000. National Bank of Canada FI lifted its holdings in Stagwell by 22.3% during the first quarter. National Bank of Canada FI now owns 365,971 shares of the company’s stock valued at $2,214,000 after purchasing an additional 66,847 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Stagwell during the first quarter valued at about $86,000. Finally, Vanguard Group Inc. lifted its holdings in Stagwell by 2.8% during the first quarter. Vanguard Group Inc. now owns 5,548,288 shares of the company’s stock valued at $33,567,000 after purchasing an additional 149,020 shares during the last quarter. 35.61% of the stock is owned by hedge funds and other institutional investors.

Stagwell Stock Up 1.9%

STGW stock opened at $4.81 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.90. The company’s 50 day moving average is $5.27 and its 200 day moving average is $5.13. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 10.11 and a beta of 1.51. Stagwell Inc. has a 1-year low of $4.03 and a 1-year high of $8.18.

Analyst Upgrades and Downgrades

Several research firms have commented on STGW. Zacks Research raised shares of Stagwell from a “strong sell” rating to a “hold” rating in a report on Monday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $6.36 price objective on shares of Stagwell in a report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Stagwell from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Rosenblatt Securities dropped their price objective on shares of Stagwell from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Morgan Stanley dropped their price objective on shares of Stagwell from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.97.

Stagwell 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.