TRUE Private Wealth Advisors Takes Position in Stagwell Inc. (NASDAQ:STGW)

TRUE Private Wealth Advisors purchased a new stake in shares of Stagwell Inc. (NASDAQ:STGW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,900 shares of the company’s stock, valued at approximately $105,000.

Several other institutional investors and hedge funds have also recently modified their holdings of STGW. JPMorgan Chase & Co. raised its stake in shares of Stagwell by 21.7% during the first quarter. JPMorgan Chase & Co. now owns 29,273 shares of the company’s stock valued at $212,000 after acquiring an additional 5,216 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Stagwell by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 249,416 shares of the company’s stock worth $1,806,000 after purchasing an additional 3,036 shares during the last quarter. Bank of Montreal Can grew its holdings in Stagwell by 66.4% in the first quarter. Bank of Montreal Can now owns 58,256 shares of the company’s stock worth $437,000 after purchasing an additional 23,256 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Stagwell in the first quarter worth $143,000. Finally, MetLife Investment Management LLC grew its holdings in Stagwell by 12.2% in the first quarter. MetLife Investment Management LLC now owns 24,614 shares of the company’s stock worth $178,000 after purchasing an additional 2,676 shares during the last quarter. Institutional investors own 35.61% of the company’s stock.

Stagwell Stock Up 4.3 %

Shares of STGW opened at $5.54 on Friday. Stagwell Inc. has a 1-year low of $3.83 and a 1-year high of $8.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.75 and a quick ratio of 0.75. The company’s fifty day moving average price is $5.95 and its 200-day moving average price is $5.64.

Stagwell (NASDAQ:STGW) last announced its quarterly earnings results 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). Stagwell had a positive return on equity of 7.38% and a negative net margin of 0.09%. The company had revenue of $654.90 million for the quarter, compared to analyst estimates of $683.12 million. During the same period in the prior year, the business posted $0.22 earnings per share. Stagwell’s revenue for the quarter was down 7.5% on a year-over-year basis. Sell-side analysts anticipate that Stagwell Inc. will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Stagwell

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

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.