Intech Investment Management LLC Takes Position in Stagwell Inc. (NASDAQ:STGW)

Intech Investment Management LLC acquired a new stake in Stagwell Inc. (NASDAQ:STGW) in the third quarter, HoldingsChannel.com reports. The firm acquired 19,321 shares of the company’s stock, valued at approximately $136,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in STGW. Lighthouse Investment Partners LLC acquired a new position in Stagwell in the second quarter valued at $2,316,000. Dimensional Fund Advisors LP lifted its stake in shares of Stagwell by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after purchasing an additional 127,099 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Stagwell by 123.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock worth $8,716,000 after purchasing an additional 685,164 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Stagwell by 44.4% during the second quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock worth $197,000 after purchasing an additional 8,875 shares in the last quarter. Finally, CCG Wealth Management LLC acquired a new position in shares of Stagwell during the second quarter worth about $3,008,000. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STGW shares. Rosenblatt Securities boosted their price target on Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Benchmark boosted their price target on Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price target on shares of Stagwell in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.50.

Stagwell Stock Down 3.3 %

Shares of Stagwell stock opened at $7.62 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The firm has a market cap of $2.01 billion, a P/E ratio of 26.47 and a beta of 1.44. Stagwell Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $8.18. The business has a 50-day moving average price of $7.18 and a 200 day moving average price of $6.95.

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.