Clear Harbor Asset Management LLC Sells 17,499 Shares of Stagwell Inc. (NASDAQ:STGW)

Clear Harbor Asset Management LLC cut its position in shares of Stagwell Inc. (NASDAQ:STGW) by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,868 shares of the company’s stock after selling 17,499 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Stagwell were worth $624,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Stagwell during the 2nd quarter worth approximately $29,000. Paloma Partners Management Co bought a new stake in Stagwell during the third quarter worth $77,000. Hsbc Holdings PLC boosted its position in Stagwell by 25.1% in the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after purchasing an additional 3,360 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Stagwell by 59.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock worth $114,000 after purchasing an additional 6,058 shares during the last quarter. Finally, FMR LLC increased its position in shares of Stagwell by 370.3% during the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after purchasing an additional 13,252 shares during the last quarter. 35.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STGW. Rosenblatt Securities boosted their price target on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 target price on shares of Stagwell in a research note on Monday, October 21st. Finally, Benchmark raised their price target on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 8th. One 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Stagwell Price Performance

NASDAQ STGW opened at $6.63 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The company has a market cap of $1.75 billion, a PE ratio of 21.77 and a beta of 1.46. Stagwell Inc. has a 52 week low of $4.88 and a 52 week high of $8.18. The firm’s 50-day simple moving average is $7.09 and its two-hundred day simple moving average is $6.93.

Stagwell 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.