Jacobs Levy Equity Management Inc. Sells 131,520 Shares of Stagwell Inc. (NASDAQ:STGW)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 17.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 620,602 shares of the company's stock after selling 131,520 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.24% of Stagwell worth $4,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Stagwell by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company's stock valued at $36,306,000 after buying an additional 452,874 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Stagwell in the 2nd quarter worth about $2,316,000. Dimensional Fund Advisors LP grew its position in Stagwell by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company's stock valued at $10,344,000 after purchasing an additional 127,099 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Stagwell by 123.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company's stock valued at $8,716,000 after purchasing an additional 685,164 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in Stagwell by 44.4% in the second quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company's stock worth $197,000 after buying an additional 8,875 shares during the last quarter. Hedge funds and other institutional investors own 35.61% of the company's stock.

Stagwell Stock Performance

NASDAQ:STGW traded down $0.26 on Friday, hitting $7.62. The stock had a trading volume of 396,861 shares, compared to its average volume of 563,371. The business's 50-day simple moving average is $7.18 and its two-hundred day simple moving average is $6.95. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 26.47 and a beta of 1.44. Stagwell Inc. has a 52-week low of $4.88 and a 52-week high of $8.18. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97.

Analyst Upgrades and Downgrades

STGW has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $7.50 price target on shares of Stagwell in a research report on Monday, October 21st. Benchmark boosted their price target on Stagwell from $8.50 to $9.50 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities lifted their price objective on Stagwell from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $8.50.

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.