Clear Harbor Asset Management LLC Sells 17,499 Shares of Stagwell Inc. (NASDAQ:STGW)

Clear Harbor Asset Management LLC decreased its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 15.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 94,868 shares of the company’s stock after selling 17,499 shares during the period. Clear Harbor Asset Management LLC’s holdings in Stagwell were worth $624,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Stagwell during the second quarter valued at about $29,000. Paloma Partners Management Co bought a new stake in Stagwell during the 3rd quarter worth approximately $77,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Stagwell by 59.6% in 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. Hsbc Holdings PLC boosted its holdings in Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after purchasing an additional 3,360 shares during the period. Finally, FMR LLC grew its position in shares of Stagwell by 370.3% during the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after purchasing an additional 13,252 shares in the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

Stagwell Trading Up 1.5 %

NASDAQ STGW opened at $6.63 on Wednesday. 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 stock’s 50-day simple moving average is $7.09 and its two-hundred day simple moving average is $6.93. Stagwell Inc. has a twelve month low of $4.88 and a twelve month high of $8.18. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 21.77 and a beta of 1.46.

Analysts Set New Price Targets

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

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.