Rhumbline Advisers Purchases 5,461 Shares of Stagwell Inc. (NASDAQ:STGW)

Rhumbline Advisers grew its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 4.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 142,375 shares of the company’s stock after purchasing an additional 5,461 shares during the period. Rhumbline Advisers’ holdings in Stagwell were worth $971,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Stagwell during the 4th quarter valued at $56,000. Victory Capital Management Inc. raised its position in Stagwell by 39.1% during the fourth quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock valued at $113,000 after purchasing an additional 4,807 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Stagwell by 44.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after purchasing an additional 8,875 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its position in Stagwell by 143.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 74,769 shares of the company’s stock worth $496,000 after acquiring an additional 44,039 shares during the last quarter. Finally, Clear Harbor Asset Management LLC increased its position in shares of Stagwell by 1.2% in the second quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company’s stock valued at $860,000 after acquiring an additional 1,500 shares during the period. Institutional investors own 35.61% of the company’s stock.

Wall Street Analysts Forecast Growth

STGW has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of Stagwell in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $6.50 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.50 target price on shares of Stagwell in a research report on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $8.50 price target on shares of Stagwell in a research note on Wednesday, August 14th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $8.00 price objective on shares of Stagwell in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.79.

Stagwell Trading Down 1.4 %

STGW opened at $7.22 on Monday. Stagwell Inc. has a one year low of $3.83 and a one year high of $7.50. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -240.67 and a beta of 1.35. The stock’s 50 day moving average price is $6.81 and its 200-day moving average price is $6.54. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.90 and a current ratio of 0.90.

Stagwell (NASDAQ:STGW) last posted its earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $671.20 million for the quarter, compared to analysts’ expectations of $666.61 million. Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.06%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. On average, equities analysts forecast that Stagwell Inc. will post 0.59 EPS for the current year.

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.