Stagwell Inc. (NASDAQ:STGW) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its stake in Stagwell Inc. (NASDAQ:STGW) by 25.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,158 shares of the company’s stock after selling 29,911 shares during the period. Cerity Partners LLC’s holdings in Stagwell were worth $626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STGW. Clear Harbor Asset Management LLC raised its stake in shares of Stagwell by 1.2% during the second quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company’s stock worth $860,000 after purchasing an additional 1,500 shares during the last quarter. Allegheny Financial Group LTD increased its stake in Stagwell by 5.8% in the 2nd quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company’s stock valued at $302,000 after buying an additional 2,423 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after acquiring an additional 3,360 shares during the period. Quarry LP purchased a new stake in shares of Stagwell in the second quarter valued at about $29,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Stagwell by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock worth $243,000 after acquiring an additional 4,961 shares during the period. 35.61% of the stock is owned by hedge funds and other institutional investors.

Stagwell Price Performance

STGW stock opened at $7.62 on Friday. The firm has a 50 day moving average of $7.18 and a 200-day moving average of $6.95. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 26.80 and a beta of 1.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. Stagwell Inc. has a 12-month low of $4.88 and a 12-month high of $8.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Stagwell in a report on Monday, October 21st. Finally, Benchmark lifted their price target on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.50.

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.