Stagwell Inc. (NASDAQ:STGW) Major Shareholder Sells $25,720,000.00 in Stock

Stagwell Inc. (NASDAQ:STGW – Get Rating) major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $6.43, for a total transaction of $25,720,000.00. Following the completion of the sale, the insider now directly owns 17,099,784 shares of the company’s stock, valued at $109,951,611.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Stagwell Stock Performance

Shares of STGW stock opened at $6.50 on Friday. The stock has a market capitalization of $1.90 billion, a P/E ratio of 30.95 and a beta of 1.02. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.25. The firm’s 50 day moving average is $7.04 and its 200 day moving average is $7.07. Stagwell Inc. has a 12 month low of $4.80 and a 12 month high of $9.23.

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

Institutional Trading of Stagwell

A number of institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. lifted its stake in shares of Stagwell by 44.1% during the 4th quarter. Alliancebernstein L.P. now owns 44,800 shares of the company’s stock valued at $278,000 after buying an additional 13,700 shares in the last quarter. Millennium Management LLC purchased a new stake in Stagwell in the 4th quarter worth approximately $203,000. Delphia USA Inc. lifted its stake in Stagwell by 50.6% in the 4th quarter. Delphia USA Inc. now owns 46,760 shares of the company’s stock worth $290,000 after purchasing an additional 15,713 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Stagwell in the 4th quarter worth approximately $68,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Stagwell by 4.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,052 shares of the company’s stock worth $236,000 after purchasing an additional 1,528 shares in the last quarter. 38.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STGW has been the subject of a number of research reports. Rosenblatt Securities initiated coverage on shares of Stagwell in a research report on Wednesday, March 1st. They set a “buy” rating and a $10.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Stagwell in a research report on Friday, March 3rd. Finally, Benchmark reissued a “buy” rating and set a $13.00 target price on shares of Stagwell in a research report on Tuesday, February 28th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.