Insider Selling: Stagwell Inc. (NASDAQ:STGW) CEO Sells 12,000,000 Shares of Stock

Stagwell Inc. (NASDAQ:STGW – Get Rating) CEO Mark Jeffery Penn sold 12,000,000 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $6.43, for a total value of $77,160,000.00. Following the sale, the chief executive officer now directly owns 14,502,414 shares in the company, valued at $93,250,522.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stagwell Stock Up 4.3 %

Shares of STGW opened at $6.57 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 31.29 and a beta of 1.02. Stagwell Inc. has a 1 year low of $4.80 and a 1 year high of $9.23. The business’s 50 day simple moving average is $7.03 and its 200-day simple moving average is $7.08.

Stagwell (NASDAQ:STGW – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.10. Stagwell had a net margin of 1.01% and a return on equity of 12.87%. The company had revenue of $708.19 million for the quarter, compared to the consensus estimate of $719.23 million. As a group, equities analysts expect that Stagwell Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Stagwell

Several hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Stagwell during the second quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its stake in Stagwell by 75.9% during the third quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company’s stock worth $34,000 after acquiring an additional 2,127 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in Stagwell during the third quarter worth approximately $60,000. Boothbay Fund Management LLC bought a new stake in Stagwell during the fourth quarter worth approximately $68,000. Finally, SG Americas Securities LLC bought a new stake in Stagwell during the third quarter worth approximately $76,000. 38.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STGW has been the topic of several recent analyst reports. B. Riley assumed coverage on Stagwell in a research note on Tuesday, November 15th. They set a “buy” rating and a $13.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $13.00 price objective on shares of Stagwell in a research report on Tuesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Stagwell in a report on Friday, March 3rd. Finally, Rosenblatt Securities started coverage on shares of Stagwell in a research note on Wednesday, March 1st. They set a “buy” rating and a $10.00 target price for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Stagwell has a consensus rating of “Buy” and an average target price of $11.00.

About Stagwell

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Stagwell, Inc operates as media and public relations agency. It delivers brands that connect culture-moving creativity with technology to harmonize the art and science of marketing. It operates through the following segments: Integrated Agencies Network, Media Network, Communications Network, All Other, and Corporate.