Stagwell Inc’s filing revealed that its Director Gross Bradley J. unloaded Company’s shares for reported $25.36 million on Jun 13 ’24. In the deal valued at $6.34 per share,4,000,000 shares were sold. As a result of this transaction, Gross Bradley J. now holds 12,981,022 shares worth roughly $96.45 million.
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Then, GOLDMAN SACHS GROUP INC sold 4,000,000 shares, generating $25,360,000 in total proceeds. Upon selling the shares at $6.34, the 10% Owner now owns 12,981,022 shares.
Before that, Penn Mark Jeffery bought 10,000 shares. Stagwell Inc shares valued at $52,759 were divested by the Chief Executive Officer at a price of $5.28 per share. As a result of the transaction, Penn Mark Jeffery now holds 2,490,469 shares, worth roughly $18.5 million.
Goldman initiated its Stagwell Inc [STGW] rating to a Neutral in a research note published on June 25, 2024; the price target was $6.50. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who began to cover the stock in early October with a ‘”a Buy”‘ rating. Stephens also remained covering STGW and has decreased its forecast on August 09, 2023 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Wells Fargo revised its rating on July 24, 2023. It rated STGW as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of STGW
On Monday, Stagwell Inc [NASDAQ:STGW] saw its stock jump 1.78% to $7.43. Over the last five days, the stock has lost -4.99%. Stagwell Inc shares have risen nearly 12.07% since the year began. Nevertheless, the stocks have risen 63.66% over the past one year. While a 52-week high of $7.99 was reached on 11/11/24, a 52-week low of $4.49 was recorded on 02/28/24. SMA at 50 days reached $6.98, while 200 days put it at $6.59.
Levels Of Support And Resistance For STGW Stock
The 24-hour chart illustrates a support level at 7.27, which if violated will result in even more drops to 7.12. On the upside, there is a resistance level at 7.61. A further resistance level may holdings at 7.80. The Relative Strength Index (RSI) on the 14-day chart is 58.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.20%. Stochastics %K at 66.95% indicates the stock is a holding.
How much short interest is there in Stagwell Inc?
A steep rise in short interest was recorded in Stagwell Inc stocks on 2024-10-31, dropping by -0.73 million shares to a total of 4.1 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 4.83 million shares. There was a decline of -17.75%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 17, 2023 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $12 price target.
