Portfolio Design Labs LLC Acquires New Position in Stagwell Inc. (NASDAQ:STGW)

Portfolio Design Labs LLC acquired a new stake in Stagwell Inc. (NASDAQ:STGW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 41,214 shares of the company’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its stake in shares of Stagwell by 2.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,266,783 shares of the company’s stock valued at $8,335,000 after purchasing an additional 25,189 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Stagwell in the third quarter valued at about $229,000. Barclays PLC lifted its stake in shares of Stagwell by 304.6% in the third quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after purchasing an additional 101,201 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of Stagwell in the third quarter valued at about $136,000. Finally, Jane Street Group LLC raised its position in Stagwell by 37.1% during the third quarter. Jane Street Group LLC now owns 149,506 shares of the company’s stock worth $1,050,000 after acquiring an additional 40,439 shares during the last quarter. Institutional investors and hedge funds own 35.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on STGW shares. Rosenblatt Securities lifted their target price on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Benchmark lifted their target price on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $7.50 target price on shares of Stagwell in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Stagwell presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Stagwell Stock Performance

Shares of NASDAQ STGW opened at $6.24 on Thursday. The company has a market cap of $1.64 billion, a PE ratio of 21.23 and a beta of 1.44. Stagwell Inc. has a 12 month low of $4.88 and a 12 month high of $8.18. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day simple moving average of $6.67 and a 200-day simple moving average of $6.87.

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.