Public Employees Retirement System of Ohio Increases Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Public Employees Retirement System of Ohio increased its position in Stagwell Inc. (NASDAQ:STGW) by 112.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,429 shares of the company’s stock after purchasing an additional 44,097 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Stagwell were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in STGW. BlackRock Inc. increased its position in shares of Stagwell by 29.1% during the second quarter. BlackRock Inc. now owns 7,256,974 shares of the company’s stock worth $52,323,000 after acquiring an additional 1,634,128 shares during the last quarter. Penn Capital Management Company LLC acquired a new position in Stagwell in the first quarter worth about $10,541,000. Select Equity Group L.P. raised its stake in Stagwell by 19.1% during the first quarter. Select Equity Group L.P. now owns 6,706,120 shares of the company’s stock valued at $49,759,000 after buying an additional 1,075,851 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Stagwell by 1,951.5% during the 1st quarter. New York State Common Retirement Fund now owns 980,044 shares of the company’s stock worth $7,272,000 after buying an additional 932,272 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of Stagwell in the 3rd quarter worth approximately $3,568,000. 35.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Wade Oosterman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the acquisition, the director now owns 128,204 shares in the company, valued at approximately $646,148.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Mark Jeffery Penn acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $5.20 per share, with a total value of $52,000.00. Following the completion of the transaction, the chief executive officer now owns 2,480,469 shares of the company’s stock, valued at approximately $12,898,438.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wade Oosterman acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the director now directly owns 128,204 shares of the company’s stock, valued at approximately $646,148.16. The disclosure for this purchase can be found here. 4.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STGW. TheStreet upgraded shares of Stagwell from a “d+” rating to a “c-” rating in a research note on Wednesday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $6.50 price objective on shares of Stagwell in a report on Friday, March 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.50 target price on shares of Stagwell in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Stagwell currently has a consensus rating of “Moderate Buy” and an average target price of $8.11.

Stagwell Price Performance

Shares of Stagwell stock opened at $6.01 on Thursday. Stagwell Inc. has a 52 week low of $3.83 and a 52 week high of $8.59. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. The stock has a market cap of $1.61 billion, a PE ratio of -200.33 and a beta of 1.04. The company’s 50-day moving average price is $6.23 and its two-hundred day moving average price is $5.56.

Stagwell (NASDAQ:STGW) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $654.90 million for the quarter, compared to the consensus estimate of $683.12 million. Stagwell had a positive return on equity of 7.38% and a negative net margin of 0.09%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Stagwell Inc. will post 0.73 EPS for the current fiscal year.

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.