Allegheny Financial Group Has $162,000 Stock Holdings in Stagwell Inc. (NASDAQ:STGW)

Allegheny Financial Group decreased its holdings in shares of Stagwell Inc. (NASDAQ:STGW) by 46.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 24,627 shares of the company’s stock after selling 21,176 shares during the period. Allegheny Financial Group’s holdings in Stagwell were worth $162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in Stagwell during the fourth quarter worth $29,000. KLP Kapitalforvaltning AS acquired a new position in shares of Stagwell during the 4th quarter valued at about $105,000. Walleye Capital LLC bought a new position in shares of Stagwell in the 4th quarter valued at approximately $107,000. XTX Topco Ltd acquired a new stake in Stagwell in the 4th quarter worth approximately $110,000. Finally, Pictet Asset Management Holding SA boosted its position in Stagwell by 31.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 19,468 shares of the company’s stock worth $128,000 after purchasing an additional 4,609 shares during the period. Institutional investors own 35.61% of the company’s stock.

Stagwell Stock Performance

NASDAQ:STGW opened at $5.62 on Friday. The firm’s 50-day moving average is $5.77 and its 200-day moving average is $6.47. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 281.00 and a beta of 1.32. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. Stagwell Inc. has a 52-week low of $4.75 and a 52-week high of $8.18.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on STGW shares. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Stagwell in a research note on Thursday, April 3rd. Benchmark restated a “buy” rating and set a $10.00 price target on shares of Stagwell in a report on Thursday, April 3rd. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $8.00 to $9.00 in a research note on Friday, February 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 target price 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 four have given a buy rating to the company’s stock. Based on data from MarketBeat, Stagwell currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

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.