Stagwell Inc. (NASDAQ:STGW) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 2,968.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,193,355 shares of the company's stock after purchasing an additional 1,154,458 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.45% of Stagwell worth $7,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STGW. KLP Kapitalforvaltning AS acquired a new stake in shares of Stagwell in the 4th quarter valued at about $105,000. FMR LLC boosted its holdings in shares of 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. purchased a new position in shares of Stagwell during the third quarter worth approximately $136,000. Principal Financial Group Inc. acquired a new position in shares of Stagwell in the 3rd quarter valued at $229,000. Finally, Fox Run Management L.L.C. purchased a new stake in Stagwell in the 4th quarter valued at $239,000. 35.61% of the stock is owned by institutional investors and hedge funds.

Stagwell Stock Performance

NASDAQ:STGW traded up $0.27 during mid-day trading on Tuesday, reaching $5.49. The stock had a trading volume of 643,711 shares, compared to its average volume of 516,131. Stagwell Inc. has a twelve month low of $4.75 and a twelve month high of $8.18. The business has a 50 day simple moving average of $5.91 and a 200 day simple moving average of $6.54. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 274.50 and a beta of 1.32. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95.

Wall Street Analysts Forecast Growth

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

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.