Harbor Capital Advisors Inc. Acquires 25,189 Shares of Stagwell Inc. (NASDAQ:STGW)

Harbor Capital Advisors Inc. boosted its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,266,783 shares of the company’s stock after acquiring an additional 25,189 shares during the period. Harbor Capital Advisors Inc.’s holdings in Stagwell were worth $8,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. purchased a new position in Stagwell in the third quarter valued at about $229,000. Barclays PLC grew its holdings in Stagwell by 304.6% in the third quarter. Barclays PLC now owns 134,421 shares of the company’s stock worth $944,000 after purchasing an additional 101,201 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Stagwell during the third quarter worth $136,000. Jane Street Group LLC lifted its holdings in shares of Stagwell by 37.1% during the 3rd quarter. Jane Street Group LLC now owns 149,506 shares of the company’s stock valued at $1,050,000 after purchasing an additional 40,439 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Stagwell in the 3rd quarter worth $77,000. Institutional investors own 35.61% of the company’s stock.

Analysts Set New Price Targets

STGW has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price target on shares of Stagwell in a research note on Monday, October 21st. Benchmark boosted their target price on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities raised their price target on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Stagwell Stock Performance

NASDAQ:STGW traded down $0.38 during midday trading on Friday, hitting $5.83. The company’s stock had a trading volume of 89,949 shares, compared to its average volume of 304,801. Stagwell Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $8.18. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $1.53 billion, a P/E ratio of 21.57 and a beta of 1.46. The firm’s 50 day moving average is $7.22 and its 200-day moving average is $6.95.

About Stagwell

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.