Stagwell (NASDAQ:STGW) Stock Rating Reaffirmed by Rosenblatt Securities

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They presently have a $9.00 target price on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 92.10% from the stock’s previous close.

Several other research firms have also issued reports on STGW. Stephens lowered shares of Stagwell from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $11.00 to $8.00 in a research report on Wednesday, August 9th. Morgan Stanley initiated coverage on Stagwell in a report on Wednesday, June 28th. They issued an “equal weight” rating and a $9.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Stagwell in a report on Wednesday, August 9th. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Stagwell in a research note on Monday, August 7th. Finally, The Goldman Sachs Group cut their price objective on Stagwell from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

Stagwell Stock Down 13.9 %

STGW opened at $4.69 on Tuesday. The stock’s fifty day moving average is $6.01 and its 200-day moving average is $6.51. Stagwell has a one year low of $4.67 and a one year high of $9.23. The company has a market capitalization of $1.26 billion, a PE ratio of -234.25 and a beta of 1.09. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.81 and a current ratio of 0.81.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The business had revenue of $632.27 million for the quarter, compared to the consensus estimate of $658.88 million. On average, equities analysts predict that Stagwell will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Stagwell

In related news, President Jay Leveton purchased 7,540 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $4.89 per share, with a total value of $36,870.60. Following the completion of the purchase, the president now owns 491,825 shares of the company’s stock, valued at approximately $2,405,024.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Stagwell

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Stagwell by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,052 shares of the company’s stock worth $236,000 after buying an additional 1,528 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Stagwell by 75.9% in 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 in the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of Stagwell by 2.3% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 110,117 shares of the company’s stock worth $794,000 after purchasing an additional 2,500 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Stagwell by 3.8% during the 3rd quarter. Credit Suisse AG now owns 71,555 shares of the company’s stock valued at $497,000 after purchasing an additional 2,604 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Stagwell by 12.2% in the 1st quarter. MetLife Investment Management LLC now owns 24,614 shares of the company’s stock valued at $178,000 after purchasing an additional 2,676 shares during the last quarter. 97.86% of the stock is owned by hedge funds and other institutional investors.

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)-based communications technology, cookie-less data platforms for audience targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.