Benchmark Raises Stagwell (NASDAQ:STGW) Price Target to $9.00

Stagwell (NASDAQ:STGW) had its target price increased by research analysts at Benchmark from $6.50 to $9.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price would indicate a potential upside of 26.76% from the stock’s current price.

STGW has been the topic of several other reports. TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $7.50 target price on shares of Stagwell in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Stagwell presently has an average rating of “Moderate Buy” and an average target price of $8.39.

Stagwell Price Performance

Shares of NASDAQ:STGW traded up $0.36 on Thursday, hitting $7.10. The company had a trading volume of 472,444 shares, compared to its average volume of 536,752. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. Stagwell has a 52-week low of $3.83 and a 52-week high of $8.59. The business has a 50 day moving average of $5.83 and a 200 day moving average of $5.76. The company has a market cap of $1.91 billion, a PE ratio of -237.33 and a beta of 1.09.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.38%. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $683.12 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. The firm’s revenue was down 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that Stagwell will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Stagwell

In related news, Director Wade Oosterman bought 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the director now owns 128,204 shares in the company, valued at $646,148.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Wade Oosterman bought 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the director now owns 128,204 shares in the company, valued at $646,148.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Jeffery Penn bought 10,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $5.20 per share, with a total value of $52,000.00. Following the purchase, the chief executive officer now owns 2,480,469 shares of the company’s stock, valued at approximately $12,898,438.80. The disclosure for this purchase can be found here. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Stagwell

A number of hedge funds have recently bought and sold shares of the business. Clear Harbor Asset Management LLC grew its stake in Stagwell by 2.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 112,617 shares of the company’s stock valued at $528,000 after purchasing an additional 2,500 shares in the last quarter. New York State Teachers Retirement System grew its stake in Stagwell by 40.8% during the 3rd quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock valued at $45,000 after purchasing an additional 2,787 shares in the last quarter. Corton Capital Inc. grew its stake in Stagwell by 8.2% during the 3rd quarter. Corton Capital Inc. now owns 36,965 shares of the company’s stock valued at $173,000 after purchasing an additional 2,787 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Stagwell by 22.0% in the 3rd quarter. Principal Financial Group Inc. now owns 22,913 shares of the company’s stock worth $107,000 after acquiring an additional 4,135 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Stagwell by 0.7% in the 3rd quarter. HighTower Advisors LLC now owns 623,894 shares of the company’s stock worth $2,926,000 after acquiring an additional 4,345 shares in the last quarter. Institutional investors and hedge funds own 35.61% of the company’s stock.

Stagwell Company 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.