Stagwell Inc. $STGW Stock Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC trimmed its position in shares of Stagwell Inc. (NASDAQ:STGW) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,987,023 shares of the company’s stock after selling 375,268 shares during the period. Penn Capital Management Company LLC’s holdings in Stagwell were worth $16,204,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of STGW. Dimensional Fund Advisors LP increased its stake in Stagwell by 22.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,035,320 shares of the company’s stock worth $31,671,000 after buying an additional 923,771 shares in the last quarter. First Trust Advisors LP raised its holdings in Stagwell by 53.0% during the first quarter. First Trust Advisors LP now owns 673,642 shares of the company’s stock valued at $4,237,000 after acquiring an additional 233,489 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Stagwell in the second quarter valued at about $3,907,000. Empowered Funds LLC purchased a new position in shares of Stagwell in the first quarter valued at about $2,862,000. Finally, Sei Investments Co. lifted its position in shares of Stagwell by 104.2% in the first quarter. Sei Investments Co. now owns 371,788 shares of the company’s stock valued at $2,339,000 after acquiring an additional 189,751 shares in the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Stock Performance

STGW opened at $11.50 on Tuesday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 12.94 and a beta of 1.23. The company has a fifty day moving average of $8.99 and a 200 day moving average of $7.32. Stagwell Inc. has a fifty-two week low of $4.28 and a fifty-two week high of $12.26. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.81 and a current ratio of 0.81.

Stagwell (NASDAQ:STGW) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $816.03 million for the quarter, compared to the consensus estimate of $838.38 million. Stagwell had a net margin of 0.31% and a return on equity of 29.37%. Stagwell’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. As a group, sell-side analysts forecast that Stagwell Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

STGW has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Stagwell from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Zacks Research downgraded Stagwell from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 5th. B. Riley Financial reissued a “buy” rating and set a $12.00 target price (up from $10.00) on shares of Stagwell in a research note on Friday, October 30th. The Goldman Sachs Group assumed coverage on Stagwell in a report on Monday, October 5th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Weiss Ratings upgraded Stagwell from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Stagwell has an average rating of “Moderate Buy” and an average price target of $11.67.

Insider Activity at Stagwell

In other news, Director Desiree Rogers sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $10.78, for a total transaction of $129,360.00. Following the completion of the transaction, the director owned 202,984 shares in the company, valued at $2,188,167.52. This trade represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.20% of the stock is owned by company insiders.

Stagwell Company Profile

Stagwell Inc is a global marketing and communications company that brings together agencies offering creative, media, digital and strategic services. Its work includes advertising, public relations, brand strategy, customer experience, market research and data analytics.

The company was formed in 2021 through the merger of Stagwell Marketing Group and MDC Partners. Its agency network serves businesses and organizations in the United States and international markets.

Stagwell is led by Mark Penn, its chairman and chief executive officer.