Hillsdale Investment Management Inc. Increases Stock Position in Stagwell Inc. (NASDAQ:STGW)

Hillsdale Investment Management Inc. lifted its stake in Stagwell Inc. (NASDAQ:STGW) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578,700 shares of the company’s stock after acquiring an additional 4,200 shares during the quarter. Hillsdale Investment Management Inc. owned 0.22% of Stagwell worth $3,808,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in Stagwell by 12.0% during the 4th quarter. American Century Companies Inc. now owns 160,520 shares of the company’s stock valued at $1,056,000 after buying an additional 17,261 shares during the last quarter. Boston Partners grew its holdings in shares of Stagwell by 4.5% in the fourth quarter. Boston Partners now owns 2,333,593 shares of the company’s stock worth $15,369,000 after acquiring an additional 101,318 shares during the period. First Pacific Advisors LP grew its holdings in shares of Stagwell by 4.7% in the fourth quarter. First Pacific Advisors LP now owns 1,123,516 shares of the company’s stock worth $7,393,000 after acquiring an additional 50,805 shares during the period. AlphaQuest LLC purchased a new stake in Stagwell during the fourth quarter valued at $293,000. Finally, Victory Capital Management Inc. lifted its holdings in Stagwell by 185.7% in the fourth quarter. Victory Capital Management Inc. now owns 38,735 shares of the company’s stock valued at $255,000 after acquiring an additional 25,177 shares during the period. 35.61% of the stock is owned by hedge funds and other institutional investors.

Stagwell Price Performance

NASDAQ STGW opened at $6.10 on Friday. Stagwell Inc. has a 52 week low of $5.29 and a 52 week high of $8.18. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $1.61 billion, a P/E ratio of 305.00 and a beta of 1.56. The stock’s 50-day moving average price is $6.32 and its 200-day moving average price is $6.79.

Analysts Set New Price Targets

A number of research firms have issued reports on STGW. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $9.00 in a research note on Friday, February 21st. Rosenblatt Securities upped their target price on shares of Stagwell from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.75.

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.