Stagwell (NASDAQ:STGW) PT Raised to $9.00

Stagwell (NASDAQ:STGW) had its price target upped by Benchmark from $6.50 to $9.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 26.76% from the stock’s previous close.

Several other equities analysts have also recently weighed in on STGW. TheStreet raised Stagwell from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.39.

Stagwell Stock Up 5.3 %

Shares of NASDAQ:STGW traded up $0.36 during midday trading on Thursday, reaching $7.10. The company had a trading volume of 472,444 shares, compared to its average volume of 536,752. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average price is $5.83 and its 200 day moving average price is $5.76. The stock has a market cap of $1.91 billion, a PE ratio of -237.33 and a beta of 1.09. Stagwell has a 1-year low of $3.83 and a 1-year high of $8.59.

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 analysts’ consensus estimates of $0.25 by ($0.13). Stagwell had a positive return on equity of 7.38% and a negative net margin of 0.09%. The firm had revenue of $654.90 million for the quarter, compared to the consensus estimate of $683.12 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The company’s revenue was down 7.5% on a year-over-year basis. Research analysts forecast that Stagwell will post 0.75 EPS for the current fiscal year.

Insider Transactions at Stagwell

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in Stagwell during the fourth quarter valued at $30,000. New York State Teachers Retirement System grew its stake in Stagwell by 40.8% during the third quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock worth $45,000 after purchasing an additional 2,787 shares during the period. AXQ Capital LP bought a new stake in Stagwell in the third quarter worth approximately $53,000. Quarry LP acquired a new position in Stagwell in the fourth quarter valued at approximately $56,000. Finally, Laurion Capital Management LP acquired a new position in Stagwell in the third quarter valued at approximately $59,000. 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.