Stagwell (NASDAQ:STGW) Sees Unusually-High Trading Volume

Stagwell Inc. (NASDAQ:STGW) shares saw strong trading volume on Friday . 2,113,537 shares changed hands during mid-day trading, an increase of 151% from the previous session’s volume of 841,531 shares.The stock last traded at $4.86 and had previously closed at $4.54.

Analyst Upgrades and Downgrades

STGW has been the subject of several research analyst reports. Morgan Stanley dropped their price target on Stagwell from $9.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Stephens cut shares of Stagwell from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $11.00 to $8.00 in a research report on Wednesday, August 9th. Benchmark dropped their price objective on shares of Stagwell from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. B. Riley cut their target price on shares of Stagwell from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Stagwell from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 8th. Three research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $8.11.

Stagwell Stock Up 11.2 %

The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -56.10 and a beta of 0.98. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.99. The firm has a 50 day moving average price of $4.57 and a two-hundred day moving average price of $5.78.

Insider Buying and Selling at Stagwell

In other Stagwell news, President Jay Leveton bought 7,540 shares of the business’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $4.89 per share, with a total value of $36,870.60. Following the transaction, the president now directly owns 491,825 shares in the company, valued at approximately $2,405,024.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Stagwell

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. lifted its position in shares of Stagwell by 89.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 733,573 shares of the company’s stock worth $3,440,000 after purchasing an additional 345,669 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Stagwell by 112.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 83,429 shares of the company’s stock worth $391,000 after buying an additional 44,097 shares during the last quarter. Royal Bank of Canada grew its position in shares of Stagwell by 284.2% in the 3rd quarter. Royal Bank of Canada now owns 122,831 shares of the company’s stock worth $576,000 after acquiring an additional 90,864 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Stagwell by 30.9% in the 3rd quarter. Sei Investments Co. now owns 182,753 shares of the company’s stock valued at $857,000 after acquiring an additional 43,115 shares during the last quarter. Finally, Laurion Capital Management LP bought a new stake in shares of Stagwell in the 3rd quarter valued at approximately $59,000. Institutional investors own 97.86% of the company’s stock.

About Stagwell

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)-based communications technology, cookie-less data platforms for audience targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.