Huber Capital Management LLC Sells 112,241 Shares of Stagwell Inc. (NASDAQ:STGW)

Huber Capital Management LLC trimmed its position in Stagwell Inc. (NASDAQ:STGW) by 49.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 114,405 shares of the company’s stock after selling 112,241 shares during the quarter. Huber Capital Management LLC’s holdings in Stagwell were worth $780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its position in shares of Stagwell by 1.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company’s stock worth $860,000 after purchasing an additional 1,500 shares in the last quarter. Allegheny Financial Group LTD grew its stake in shares of Stagwell by 5.8% during the second quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company’s stock worth $302,000 after acquiring an additional 2,423 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of 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 acquiring an additional 3,360 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Stagwell by 39.1% in the 4th 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 during the last quarter. Finally, Rhumbline Advisers boosted its stake in Stagwell by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 142,375 shares of the company’s stock worth $971,000 after purchasing an additional 5,461 shares in the last quarter. 35.61% of the stock is owned by hedge funds and other institutional investors.

Stagwell Stock Down 1.4 %

Stagwell stock opened at $7.22 on Friday. The business’s 50-day moving average price is $6.81 and its 200 day moving average price is $6.53. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.95. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -240.67 and a beta of 1.35. Stagwell Inc. has a 52 week low of $3.83 and a 52 week high of $7.50.

Stagwell (NASDAQ:STGW) last posted its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.06%. The firm had revenue of $671.20 million for the quarter, compared to analysts’ expectations of $666.61 million. During the same period last year, the firm earned $0.12 earnings per share. Stagwell’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stagwell Inc. will post 0.59 earnings per share for the current year.

Analyst Ratings Changes

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

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.