Coldstream Capital Management Inc. Acquires Shares of 17,717 Stagwell Inc. (NASDAQ:STGW)

Coldstream Capital Management Inc. bought a new position in Stagwell Inc. (NASDAQ:STGW) in the 3rd quarter, Holdings Channel.com reports. The firm bought 17,717 shares of the company’s stock, valued at approximately $136,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new position in Stagwell during the second quarter worth about $29,000. Paloma Partners Management Co acquired a new position in Stagwell during the 3rd quarter worth approximately $77,000. Hsbc Holdings PLC raised its stake in shares of Stagwell by 25.1% during the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after buying an additional 3,360 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Stagwell by 59.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock valued at $114,000 after buying an additional 6,058 shares during the period. Finally, FMR LLC lifted its holdings in shares of Stagwell by 370.3% in the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after buying an additional 13,252 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

Stagwell Trading Down 0.7 %

Shares of STGW stock opened at $7.15 on Wednesday. The stock has a market cap of $1.88 billion, a P/E ratio of 24.47 and a beta of 1.44. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. Stagwell Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $8.18. The business has a fifty day simple moving average of $7.22 and a 200-day simple moving average of $6.96.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STGW shares. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research report on Monday, October 21st. Rosenblatt Securities increased their price target on shares of Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Benchmark boosted their price objective on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.