Boston Partners Sells 108,869 Shares of Stagwell Inc. (NASDAQ:STGW)

Boston Partners decreased its position in shares of Stagwell Inc. (NASDAQ:STGW) by 5.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,811,501 shares of the company’s stock after selling 108,869 shares during the quarter. Boston Partners owned approximately 0.67% of Stagwell worth $11,233,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust bought a new stake in shares of Stagwell during the 4th quarter valued at $30,000. Quarry LP bought a new position in shares of Stagwell in the fourth quarter valued at approximately $56,000. Handelsbanken Fonder AB purchased a new position in Stagwell during the fourth quarter valued at approximately $71,000. TRUE Private Wealth Advisors bought a new stake in Stagwell during the 4th quarter worth approximately $105,000. Finally, Victory Capital Management Inc. boosted its holdings in Stagwell by 39.1% in the 4th quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock valued at $113,000 after purchasing an additional 4,807 shares during the period. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Stock Performance

NASDAQ:STGW traded down $0.16 during trading hours on Friday, reaching $6.15. The company had a trading volume of 1,012,457 shares, compared to its average volume of 544,647. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -205.00 and a beta of 1.36. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.59. Stagwell Inc. has a 52 week low of $3.83 and a 52 week high of $7.25. The firm’s 50 day moving average price is $6.78 and its 200-day moving average price is $6.44.

Stagwell (NASDAQ:STGW) last announced its earnings results on Wednesday, May 1st. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The business had revenue of $670.06 million for the quarter, compared to analysts’ expectations of $633.45 million. Stagwell had a negative net margin of 0.09% and a positive return on equity of 6.92%. On average, analysts forecast that Stagwell Inc. will post 0.61 EPS for the current year.

Insider Transactions at Stagwell

In other Stagwell news, Director Bradley J. Gross sold 4,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the director now owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on STGW. B. Riley increased their price objective on Stagwell from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on shares of Stagwell in a research report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $8.00 target price on shares of Stagwell in a research note on Monday, June 24th. Benchmark raised their price target on Stagwell from $6.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $7.78.

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.