New York State Common Retirement Fund Has $10.61 Million Position in Stagwell Inc. (NASDAQ:STGW)

New York State Common Retirement Fund lifted its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 0.4% in the fourth quarter, according to the company in its most recent filing with the SEC. 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 owned about 0.61% of Stagwell worth $10,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Paloma Partners Management Co bought a new position in Stagwell in the 3rd quarter valued at about $77,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Stagwell by 59.6% during 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 period. FMR LLC increased its stake in shares of Stagwell by 370.3% during the third quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after purchasing an additional 13,252 shares during the period. Intech Investment Management LLC acquired a new stake in Stagwell during the 3rd quarter worth approximately $136,000. Finally, Coldstream Capital Management Inc. acquired a new position in Stagwell in the 3rd quarter valued at $136,000. Institutional investors own 35.61% of the company’s stock.

Stagwell Trading Up 5.7 %

STGW opened at $6.66 on Tuesday. The stock 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 company has a 50-day simple moving average of $6.48 and a 200 day simple moving average of $6.87.

Analyst Upgrades and Downgrades

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

Stagwell Company 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.