Concurrent Investment Advisors LLC Increases Stock Position in Stagwell Inc. (NASDAQ:STGW)

Concurrent Investment Advisors LLC boosted its stake in Stagwell Inc. (NASDAQ:STGW) by 44.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,875 shares of the company’s stock after purchasing an additional 8,875 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Stagwell were worth $197,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of STGW. Quarry LP purchased a new stake in Stagwell in the 4th quarter worth $56,000. Victory Capital Management Inc. raised its position in shares of Stagwell by 39.1% during the 4th quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock valued at $113,000 after buying an additional 4,807 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of Stagwell by 143.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 74,769 shares of the company’s stock valued at $496,000 after buying an additional 44,039 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Stagwell by 1.2% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company’s stock valued at $860,000 after buying an additional 1,500 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Stagwell by 3.8% during the 1st quarter. Swiss National Bank now owns 178,600 shares of the company’s stock valued at $1,111,000 after buying an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Stock Performance

Stagwell stock opened at $6.95 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.90 and a quick ratio of 0.90. Stagwell Inc. has a 1-year low of $3.83 and a 1-year high of $7.32. The firm has a market capitalization of $1.87 billion, a P/E ratio of -232.33 and a beta of 1.36. The company’s 50-day moving average is $6.77 and its 200 day moving average is $6.45.

Stagwell (NASDAQ:STGW) last issued 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 company had revenue of $671.20 million during the quarter, compared to the consensus estimate of $666.61 million. Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. Stagwell’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share. Research analysts forecast that Stagwell Inc. will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STGW. The Goldman Sachs Group began coverage on shares of Stagwell in a research report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 target price on the stock. Benchmark restated a “buy” rating and set a $8.50 target price on shares of Stagwell in a research report on Wednesday, August 14th. Needham & Company LLC restated a “buy” rating and set a $7.50 target price on shares of Stagwell in a research report on Friday, August 2nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $8.00 target price on shares of Stagwell in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.79.

Insiders Place Their Bets

In other Stagwell news, Director Bradley J. Gross sold 4,000,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the transaction, the director now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.90% of the company’s stock.

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.