Prudential Financial Inc. Takes $442,000 Position in Stagwell Inc. (NASDAQ:STGW)

Prudential Financial Inc. bought a new position in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,135 shares of the company's stock, valued at approximately $442,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in Stagwell in the 4th quarter valued at approximately $105,000. FMR LLC lifted its stake in Stagwell by 370.3% during 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. Coldstream Capital Management Inc. acquired a new position in Stagwell in the 3rd quarter valued at about $136,000. Principal Financial Group Inc. purchased a new stake in Stagwell during the 3rd quarter worth approximately $229,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Stagwell in the fourth quarter worth $239,000. Hedge funds and other institutional investors own 35.61% of the company's stock.

Stagwell Stock Performance

Shares of STGW traded up $0.14 during midday trading on Tuesday, reaching $5.42. 109,222 shares of the stock were exchanged, compared to its average volume of 511,879. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 271.75 and a beta of 1.32. 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 twelve month low of $4.75 and a twelve month high of $8.18. The business's 50-day moving average price is $6.03 and its 200 day moving average price is $6.61.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on STGW shares. Rosenblatt Securities reissued a "buy" rating and set a $10.00 price objective 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 objective 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 stock from $8.00 to $9.00 in a research note on Friday, February 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $10.00 price target 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.