Harbor Capital Advisors Inc. Boosts Stock Position in Stagwell Inc. (NASDAQ:STGW)

Harbor Capital Advisors Inc. raised its position in Stagwell Inc. (NASDAQ:STGW) by 123.1% during the third quarter, Holdings Channel.com reports. The firm owned 1,241,594 shares of the company’s stock after buying an additional 685,164 shares during the period. Harbor Capital Advisors Inc.’s holdings in Stagwell were worth $8,716,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts recently commented on STGW shares. Benchmark reiterated a “buy” rating and issued a $8.50 target price on shares of Stagwell in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $8.00 target price on shares of Stagwell in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.10.

Stagwell Price Performance

Shares of Stagwell stock opened at $6.50 on Friday. The stock has a market capitalization of $1.71 billion, a P/E ratio of -325.00 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95. The business’s fifty day moving average price is $6.91 and its 200 day moving average price is $6.75. Stagwell Inc. has a twelve month low of $3.83 and a twelve month high of $7.50.

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

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.