Stagwell (NASDAQ:STGW) Sets New 52-Week Low - Here's What Happened

Stagwell Inc. (NASDAQ:STGW - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $5.26 and last traded at $5.33, with a volume of 1030019 shares trading hands. The stock had previously closed at $5.63.

Analysts Set New Price Targets

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

Stagwell Price Performance

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 firm has a market cap of $1.37 billion, a PE ratio of 257.70 and a beta of 1.32. The stock has a 50 day moving average price of $6.09 and a two-hundred day moving average price of $6.65.

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Institutional Investors Weigh In On Stagwell

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its position 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Stagwell by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 207,100 shares of the company's stock worth $1,454,000 after buying an additional 8,579 shares during the period. Jane Street Group LLC raised its position in Stagwell by 37.1% during the 3rd quarter. Jane Street Group LLC now owns 149,506 shares of the company's stock worth $1,050,000 after buying 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 during the period. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Stagwell in the third quarter worth $136,000. 35.61% of the stock is currently owned by institutional investors and hedge funds.

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.