Stagwell Inc. (NASDAQ:STGW) Shares Sold by CCG Wealth Management LLC

CCG Wealth Management LLC reduced its stake in Stagwell Inc. (NASDAQ:STGW) by 5.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,423 shares of the company’s stock after selling 3,480 shares during the quarter. CCG Wealth Management LLC’s holdings in Stagwell were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Barclays PLC boosted its position in Stagwell by 304.6% during the 3rd quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after purchasing an additional 101,201 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Stagwell by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 207,100 shares of the company’s stock worth $1,454,000 after acquiring an additional 8,579 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Stagwell during the third quarter worth about $229,000. FMR LLC grew its position 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 acquiring an additional 13,252 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Stagwell by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after acquiring an additional 127,099 shares during the last quarter. 35.61% of the stock is owned by institutional investors.

Stagwell Stock Performance

Shares of STGW opened at $6.24 on Monday. The firm has a 50-day moving average price of $6.90 and a 200 day moving average price of $6.90. The firm has a market capitalization of $1.64 billion, a PE ratio of 20.80 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 52-week low of $4.88 and a 52-week high of $8.18.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on STGW shares. Needham & Company LLC restated a “buy” rating and set a $7.50 price target on shares of Stagwell in a research report on Monday, October 21st. Rosenblatt Securities upped their price target on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Benchmark upped their price target 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. One research 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 company has a consensus rating of “Moderate Buy” and an average target price 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.