Stagwell Inc. (NASDAQ:STGW) Position Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 16.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,681 shares of the company’s stock after acquiring an additional 4,961 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Stagwell were worth $243,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in STGW. Vanguard Group Inc. boosted its stake in Stagwell by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock valued at $36,306,000 after acquiring an additional 452,874 shares during the last quarter. CCG Wealth Management LLC bought a new position in Stagwell during the 2nd quarter valued at $3,008,000. Harbor Capital Advisors Inc. boosted its stake in Stagwell by 270.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 556,430 shares of the company’s stock valued at $3,795,000 after acquiring an additional 406,031 shares during the last quarter. Huber Capital Management LLC bought a new position in Stagwell during the 1st quarter valued at $1,410,000. Finally, Dimensional Fund Advisors LP boosted its stake in Stagwell by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock valued at $10,344,000 after acquiring an additional 127,099 shares during the last quarter. 35.61% of the stock is currently owned by institutional investors.

Stagwell Stock Down 2.3 %

Shares of NASDAQ:STGW opened at $6.86 on Friday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -228.67 and a beta of 1.34. Stagwell Inc. has a 1-year low of $3.83 and a 1-year high of $7.50. The company’s fifty day moving average is $6.96 and its two-hundred day moving average is $6.69. 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 released its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. The firm had revenue of $671.20 million during the quarter, compared to analyst estimates of $666.61 million. During the same period last year, the business earned $0.12 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Equities analysts anticipate that Stagwell Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research note on Friday, August 2nd. The Goldman Sachs Group started coverage on shares of Stagwell in a report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $8.00 target price on shares of Stagwell in a report on Monday, August 5th. Finally, Benchmark reissued a “buy” rating and set a $8.50 target price on shares of Stagwell in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.10.

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.