ExodusPoint Capital Management LP Sells 51,778 Shares of Stagwell Inc. (NASDAQ:STGW)

ExodusPoint Capital Management LP decreased its stake in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 74.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,700 shares of the company's stock after selling 51,778 shares during the period. ExodusPoint Capital Management LP's holdings in Stagwell were worth $116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of Stagwell by 370.3% in the 3rd quarter. FMR LLC now owns 16,831 shares of the company's stock worth $118,000 after acquiring an additional 13,252 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $1,454,000 after purchasing an additional 8,579 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Stagwell by 37.1% in the 3rd quarter. Jane Street Group LLC now owns 149,506 shares of the company's stock worth $1,050,000 after buying an additional 40,439 shares during the last quarter. Barclays PLC increased 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 buying an additional 101,201 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in Stagwell in the third quarter worth $136,000. Hedge funds and other institutional investors own 35.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $10.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Wells Fargo & Company upgraded shares of Stagwell from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $8.00 to $9.00 in a research report on Friday, February 21st. Finally, Benchmark reiterated a "buy" rating and set a $10.00 price target on shares of Stagwell in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Stagwell presently has an average rating of "Moderate Buy" and a consensus target price of $9.08.

Stagwell Price Performance

NASDAQ STGW traded up $0.17 during trading hours on Friday, reaching $5.43. The company's stock had a trading volume of 734,287 shares, compared to its average volume of 514,744. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 271.50 and a beta of 1.32. 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 1 year low of $4.75 and a 1 year high of $8.18. The firm's 50-day moving average price is $5.95 and its 200-day moving average price is $6.56.

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.