Hotchkis & Wiley Capital Management LLC Sells 620,800 Shares of Stagwell Inc. (NASDAQ:STGW)

Hotchkis & Wiley Capital Management LLC decreased its holdings in shares of Stagwell Inc. (NASDAQ:STGW - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,186,620 shares of the company's stock after selling 620,800 shares during the period. Hotchkis & Wiley Capital Management LLC owned 7.28% of Stagwell worth $134,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Clear Harbor Asset Management LLC lifted its stake in shares of Stagwell by 1.2% in the second quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company's stock valued at $860,000 after buying an additional 1,500 shares in the last quarter. Allegheny Financial Group LTD boosted its position in shares of Stagwell by 5.8% during the second quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company's stock valued at $302,000 after buying an additional 2,423 shares during the last quarter. Hsbc Holdings PLC raised its position in Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company's stock valued at $114,000 after buying an additional 3,360 shares during the last quarter. Quarry LP bought a new position in Stagwell during the 2nd quarter valued at $29,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Stagwell by 16.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company's stock worth $243,000 after acquiring an additional 4,961 shares in the last quarter. 35.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STGW has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $7.50 price objective on shares of Stagwell in a research report on Monday, October 21st. Benchmark increased their price target on Stagwell from $8.50 to $9.50 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities boosted their price objective on Stagwell from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.50.

Stagwell Stock Performance

Stagwell stock traded down $0.06 during mid-day trading on Tuesday, reaching $8.04. The company's stock had a trading volume of 511,454 shares, compared to its average volume of 528,849. The company has a market capitalization of $2.12 billion, a P/E ratio of 27.00 and a beta of 1.44. Stagwell Inc. has a 12-month low of $4.88 and a 12-month high of $8.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The firm's fifty day moving average price is $7.12 and its two-hundred day moving average price is $6.92.

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.