Stagwell Inc. (NASDAQ:STGW) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its holdings in Stagwell Inc. (NASDAQ:STGW) by 50.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,991 shares of the company’s stock after selling 95,447 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Stagwell were worth $630,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Stagwell by 29.1% in the second quarter. BlackRock Inc. now owns 7,256,974 shares of the company’s stock valued at $52,323,000 after buying an additional 1,634,128 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Stagwell by 19.1% in the first quarter. Select Equity Group L.P. now owns 6,706,120 shares of the company’s stock valued at $49,759,000 after buying an additional 1,075,851 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Stagwell by 10.2% in the third quarter. Vanguard Group Inc. now owns 4,290,426 shares of the company’s stock valued at $29,819,000 after buying an additional 396,381 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Stagwell by 18.3% in the second quarter. Geode Capital Management LLC now owns 2,139,829 shares of the company’s stock valued at $15,428,000 after buying an additional 330,434 shares in the last quarter. Finally, State Street Corp increased its position in shares of Stagwell by 18.7% in the second quarter. State Street Corp now owns 1,926,048 shares of the company’s stock valued at $13,887,000 after buying an additional 303,275 shares in the last quarter. Institutional investors and hedge funds own 35.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on STGW shares. Needham & Company LLC restated a “buy” rating and issued a $7.50 price target on shares of Stagwell in a research report on Tuesday. TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Finally, Benchmark restated a “buy” rating and issued a $6.50 price target on shares of Stagwell in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Stagwell has a consensus rating of “Moderate Buy” and a consensus price target of $8.11.

Insider Buying and Selling at Stagwell

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

Stagwell Trading Down 2.9 %

Stagwell stock opened at $5.41 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average price of $5.99 and a 200 day moving average price of $5.65. Stagwell Inc. has a 52 week low of $3.83 and a 52 week high of $8.59.

Stagwell (NASDAQ:STGW) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). The business had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $683.12 million. Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.38%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS. On average, analysts expect that Stagwell Inc. will post 0.73 earnings per share for the current fiscal year.

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.