Bank of New York Mellon Corp Has $2.31 Million Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Bank of New York Mellon Corp decreased its holdings in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 351,185 shares of the company's stock after selling 82,243 shares during the quarter. Bank of New York Mellon Corp owned about 0.13% of Stagwell worth $2,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STGW. Paloma Partners Management Co acquired a new stake in shares of Stagwell during the 3rd quarter valued at about $77,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Stagwell by 59.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company's stock worth $114,000 after buying an additional 6,058 shares during the period. FMR LLC grew its position in Stagwell by 370.3% in the third quarter. FMR LLC now owns 16,831 shares of the company's stock valued at $118,000 after acquiring an additional 13,252 shares during the period. Coldstream Capital Management Inc. bought a new position in Stagwell during the 3rd quarter valued at about $136,000. Finally, Intech Investment Management LLC acquired a new position in Stagwell in the third quarter valued at about $136,000. Institutional investors and hedge funds own 35.61% of the company's stock.

Analysts Set New Price Targets

STGW has been the topic of a number of recent analyst reports. Rosenblatt Securities boosted their price objective on Stagwell from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company raised Stagwell from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $8.00 to $9.00 in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $8.75.

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Stagwell Stock Down 1.4 %

STGW traded down $0.09 during trading on Tuesday, reaching $6.21. The company had a trading volume of 503,479 shares, compared to its average volume of 494,950. The business's fifty day moving average price is $6.32 and its 200 day moving average price is $6.79. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. Stagwell Inc. has a 12 month low of $5.29 and a 12 month high of $8.18. The company has a market cap of $1.63 billion, a P/E ratio of 310.50 and a beta of 1.56.

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.