Harbor Capital Advisors Inc. Increases Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Harbor Capital Advisors Inc. lifted its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 123.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,241,594 shares of the company’s stock after purchasing an additional 685,164 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.46% of Stagwell worth $8,716,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Foundry Partners LLC raised its position in Stagwell by 11.3% during the 1st quarter. Foundry Partners LLC now owns 911,170 shares of the company’s stock worth $5,667,000 after buying an additional 92,154 shares during the last quarter. Vanguard Group Inc. raised its holdings in Stagwell by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock worth $36,306,000 after purchasing an additional 452,874 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Stagwell in the second quarter valued at about $2,316,000. Dimensional Fund Advisors LP lifted its position in Stagwell by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock valued at $10,344,000 after purchasing an additional 127,099 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in Stagwell by 44.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after purchasing an additional 8,875 shares in the last quarter. 35.61% of the stock is owned by institutional investors and hedge funds.

Stagwell Stock Performance

NASDAQ STGW opened at $6.50 on Friday. The business has a 50 day moving average price of $6.91 and a 200 day moving average price of $6.75. The company has a market capitalization of $1.71 billion, a P/E ratio of -325.00 and a beta of 1.35. Stagwell Inc. has a 1-year low of $3.83 and a 1-year high of $7.50. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.90 and a quick ratio of 0.90.

Stagwell (NASDAQ:STGW) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $671.20 million for the quarter, compared to analyst estimates of $666.61 million. Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. Sell-side analysts expect that Stagwell Inc. will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

STGW has been the subject of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $8.50 price target on shares of Stagwell in a report on Wednesday, October 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $8.00 target price on shares of Stagwell in a report on Monday, August 5th. 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.10.

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.