National Bank of Canada FI Sells 158,970 Shares of Stagwell Inc. (NASDAQ:STGW)

National Bank of Canada FI decreased its holdings in Stagwell Inc. (NASDAQ:STGW) by 34.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,124 shares of the company’s stock after selling 158,970 shares during the period. National Bank of Canada FI owned about 0.11% of Stagwell worth $1,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of STGW. KLP Kapitalforvaltning AS bought a new position in shares of Stagwell in the 4th quarter worth $105,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Stagwell by 59.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock worth $114,000 after purchasing an additional 6,058 shares in the last quarter. FMR LLC raised its holdings in Stagwell by 370.3% in the third quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after purchasing an additional 13,252 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Stagwell by 31.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 19,468 shares of the company’s stock valued at $128,000 after buying an additional 4,609 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Stagwell in the 3rd quarter worth approximately $136,000. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Stock Down 4.5 %

Shares of STGW stock opened at $4.84 on Wednesday. Stagwell Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $8.18. The firm has a market capitalization of $1.29 billion, a PE ratio of 242.00 and a beta of 1.32. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $6.67.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Stagwell in a research note on Thursday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Stagwell in a research report on Thursday, April 3rd. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $9.00 in a research note on Friday, February 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of Stagwell in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Stagwell presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.08.

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.