Jane Street Group LLC Boosts Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Jane Street Group LLC grew its position in shares of Stagwell Inc. (NASDAQ:STGW) by 37.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,506 shares of the company’s stock after buying an additional 40,439 shares during the quarter. Jane Street Group LLC’s holdings in Stagwell were worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Stagwell during the second quarter valued at approximately $29,000. Paloma Partners Management Co bought a new position in Stagwell during the third quarter valued at approximately $77,000. Hsbc Holdings PLC lifted its position in Stagwell by 25.1% during the second 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Stagwell by 59.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock valued at $114,000 after purchasing an additional 6,058 shares during the period. Finally, FMR LLC lifted its position in Stagwell by 370.3% during the third quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after purchasing an additional 13,252 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 research analysts recently weighed in on the stock. Benchmark increased their price objective on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities increased their price objective on shares of Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price target on shares of Stagwell in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Stagwell Stock Down 0.6 %

Shares of Stagwell stock opened at $6.60 on Tuesday. The firm’s 50 day moving average price is $7.20 and its 200-day moving average price is $6.97. 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 52-week low of $4.88 and a 52-week high of $8.18. The company has a market cap of $1.74 billion, a P/E ratio of 22.60 and a beta of 1.44.

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.