National Bank of Canada FI Sells 35,675 Shares of Stagwell Inc. (NASDAQ:STGW)

National Bank of Canada FI reduced its stake in shares of Stagwell Inc. (NASDAQ:STGW) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,094 shares of the company’s stock after selling 35,675 shares during the quarter. National Bank of Canada FI owned 0.17% of Stagwell worth $3,216,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of STGW. Quarry LP bought a new stake in shares of Stagwell during the second quarter valued at approximately $29,000. Paloma Partners Management Co acquired a new stake in Stagwell during the third quarter worth $77,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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. Hsbc Holdings PLC increased its holdings 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 period. Finally, FMR LLC raised its stake 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 in the last quarter. 35.61% of the stock is owned by institutional investors.

Stagwell Trading Down 0.7 %

Shares of STGW stock opened at $7.29 on Friday. The company has a market capitalization of $1.92 billion, a P/E ratio of 25.10 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 quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $7.21 and a 200 day moving average price of $6.96.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STGW. Benchmark upped their target price on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities lifted their price objective on Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.50 target price on shares of Stagwell in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Stagwell has an average rating of “Moderate Buy” and an average 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.