Arizona State Retirement System has lifted its stake in shares of Stagwell Inc. (NASDAQ: STGW – Get a rating) by 24.8% in Q1, according to the company in its latest 13F filing with the Securities & Exchange Commission. The institutional investor held 21,420 shares of the company after acquiring an additional 4,259 shares during the quarter. The Arizona State Retirement System holdings in Stagwell were worth $155,000 at the end of the most recent reporting period.
Other large investors have also changed their stake in the company. Goldman Sachs Group Inc. increased its position in Stagwell shares by 166,700.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,956,821 shares of the company worth $181,696,000 after purchasing an additional 20,944,257 shares during the period. Select Equity Group LP bought a new position in Stagwell during the fourth quarter, valued at approximately $21,742,000. Cidel Asset Management Inc. bought a new position in Stagwell during the fourth quarter worth approximately $16,150,000. Allspring Global Investments Holdings LLC bought a new position in Stagwell during the fourth quarter, valued at around $9,008,000. Finally, Gyroscope Capital Management Group LLC bought a new position in Stagwell during the first quarter worth approximately $4,344,000. 90.30% of the shares are held by institutional investors.
Insider Trading at Stagwell
In other news, Director Eli Samaha bought 50,000 shares in a trade that took place on Thursday, May 12. The shares were purchased at an average cost of $6.90 per share, for a total transaction of $345,000.00. Following the completion of the purchase, the administrator now directly owns 6,397,662 shares of the company, valued at approximately $44,143,867.80. The transaction was disclosed in a document filed with the SEC, accessible via this link. 21.80% of the shares are currently held by company insiders.
Stagwell is trading down 9.7%
Stock Stagwell opened at $6.31 on Friday. The company has a debt ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50-day simple moving average is $6.40 and its 200-day simple moving average is $7.00. The company has a market capitalization of $1.87 billion, a PE ratio of 42.07 and a beta of 1.05. Stagwell Inc. has a 52-week low of $4.80 and a 52-week high of $11.04.
Stagwell (NASDAQ: STGW – Get a rating) last released its quarterly earnings data on Friday, May 6. The company reported EPS of $0.10 for the quarter. The company had revenue of $642.90 million for the quarter. Stagwell had a return on equity of 4.58% and a net margin of 0.85%.
Changes to analyst ratings
Separately, Benchmark began covering Stagwell in a research note on Tuesday. They issued a “buy” rating and a price target of $15.00 on the stock.
Stagwell Company Profile
Stagwell Inc provides services in digital transformation, media and performance data, consumer insights and strategy, and creativity and communications. The Company operates through three segments: Integrated Agency Network, Media Network and Communication Network. It designs and builds digital platforms and experiences that support content delivery, commerce, services 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 cookieless data platforms for audience targeting and activation, software tools for e-commerce applications, and text messaging applications for the consumer engagement.
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