New York State Common Retirement Fund Acquires 6,992 Shares of Stagwell Inc. (NASDAQ:STGW)

New York State Common Retirement Fund increased its holdings in shares of Stagwell Inc. (NASDAQ:STGW) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,612,333 shares of the company’s stock after buying an additional 6,992 shares during the quarter. New York State Common Retirement Fund’s holdings in Stagwell were worth $10,609,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of STGW. Principal Financial Group Inc. raised its stake in Stagwell by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 34,935 shares of the company’s stock worth $230,000 after acquiring an additional 2,378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Stagwell by 59.6% during the 3rd 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 in the last quarter. TRUE Private Wealth Advisors lifted its stake in Stagwell by 40.3% in the 3rd quarter. TRUE Private Wealth Advisors now owns 22,308 shares of the company’s stock valued at $157,000 after purchasing an additional 6,408 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Stagwell by 23.3% in the third quarter. Concurrent Investment Advisors LLC now owns 35,605 shares of the company’s stock valued at $250,000 after buying an additional 6,730 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Stagwell by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 207,100 shares of the company’s stock valued at $1,454,000 after buying an additional 8,579 shares in the last quarter. 35.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STGW has been the subject of several research analyst reports. Benchmark upped their price target on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company raised Stagwell from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $9.00 in a report on Friday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $9.00 price target on shares of Stagwell in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.58.

Stagwell Stock Performance

NASDAQ STGW opened at $6.66 on Tuesday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 20.50 and a beta of 1.44. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. Stagwell Inc. has a twelve month low of $4.88 and a twelve month high of $8.18. The stock has a fifty day simple moving average of $6.48 and a 200 day simple moving average of $6.87.

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.