Penn Capital Management Company LLC Lowers Stock Position in Stagwell Inc. (NASDAQ:STGW)

Penn Capital Management Company LLC cut its holdings in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,670,928 shares of the company's stock after selling 222,090 shares during the period. Penn Capital Management Company LLC owned approximately 0.63% of Stagwell worth $10,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in STGW. Jane Street Group LLC raised its stake in shares of Stagwell by 37.1% in the third quarter. Jane Street Group LLC now owns 149,506 shares of the company's stock worth $1,050,000 after purchasing an additional 40,439 shares during the last quarter. Barclays PLC lifted its stake 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 acquiring an additional 101,201 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Stagwell during the 3rd quarter worth $229,000. Harbor Capital Advisors Inc. grew its stake in shares of Stagwell by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,266,783 shares of the company's stock worth $8,335,000 after acquiring an additional 25,189 shares in the last quarter. Finally, Portfolio Design Labs LLC bought a new position in shares of Stagwell during the fourth quarter valued at about $271,000. Institutional investors and hedge funds own 35.61% of the company's stock.

Stagwell Stock Performance

STGW traded up $0.06 during trading hours on Tuesday, hitting $5.66. The stock had a trading volume of 242,639 shares, compared to its average volume of 521,760. The stock has a market cap of $1.51 billion, a PE ratio of 282.75 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. The company's fifty day simple moving average is $5.84 and its 200 day simple moving average is $6.50. Stagwell Inc. has a 1 year low of $4.75 and a 1 year high of $8.18.

Wall Street Analysts Forecast Growth

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

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.