CCG Wealth Management LLC Lowers Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

CCG Wealth Management LLC reduced its holdings in Stagwell Inc. (NASDAQ:STGW) by 86.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,903 shares of the company’s stock after selling 381,130 shares during the period. CCG Wealth Management LLC’s holdings in Stagwell were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in STGW. Swiss National Bank increased its stake in shares of Stagwell by 3.8% during the first quarter. Swiss National Bank now owns 178,600 shares of the company’s stock worth $1,111,000 after purchasing an additional 6,500 shares in the last quarter. Foundry Partners LLC increased its position in shares of Stagwell by 11.3% during the first quarter. Foundry Partners LLC now owns 911,170 shares of the company’s stock worth $5,667,000 after purchasing an additional 92,154 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in Stagwell by 6.2% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 294,957 shares of the company’s stock valued at $1,835,000 after purchasing an additional 17,153 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Stagwell by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock worth $36,306,000 after buying an additional 452,874 shares in the last quarter. Finally, Huber Capital Management LLC acquired a new stake in shares of Stagwell in the first quarter valued at about $1,410,000. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $8.00 price objective on shares of Stagwell in a report on Monday, August 5th. The Goldman Sachs Group initiated coverage on Stagwell in a report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a report on Friday, August 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $8.50 price target on shares of Stagwell in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Stagwell presently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Stagwell Stock Down 1.6 %

Stagwell stock opened at $6.68 on Wednesday. Stagwell Inc. has a fifty-two week low of $3.83 and a fifty-two week high of $7.50. The firm has a 50 day moving average price of $6.92 and a 200 day moving average price of $6.68. The company has a market capitalization of $1.80 billion, a PE ratio of -222.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.90 and a current ratio of 0.90.

Stagwell (NASDAQ:STGW) last posted its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $671.20 million for the quarter, compared to analyst estimates of $666.61 million. Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. Stagwell’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. Research analysts expect that Stagwell Inc. will post 0.59 earnings per share for the current year.

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.