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

Stagwell (NASDAQ:STGW) had its price target boosted by Benchmark from $6.50 to $9.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

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 restated a buy rating and issued a $7.50 price objective 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 stock. According to MarketBeat.com, Stagwell has an average rating of Moderate Buy and an average target price of $8.06.

Stagwell Stock Down 3.2 %

STGW opened at $6.90 on Thursday. The business’s fifty day moving average is $5.83 and its two-hundred day moving average is $5.81. 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 one year low of $3.83 and a one 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 the consensus estimate of $0.25 by ($0.13). Stagwell had a negative net margin of 0.16% and a positive return on equity of 7.35%. 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 forecast that Stagwell will post 0.75 EPS for the current fiscal year.

Insider Activity at Stagwell

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

Institutional Investors Weigh In On Stagwell

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Stagwell during the fourth quarter worth about $56,000. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Stagwell by 15.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,266,750 shares of the company’s stock valued at $134,369,000 after buying an additional 2,731,100 shares in the last quarter. CastleKnight Management LP grew its stake in shares of Stagwell by 372.7% in the fourth quarter. CastleKnight Management LP now owns 1,467,760 shares of the company’s stock valued at $9,731,000 after buying an additional 1,157,239 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Stagwell by 14.6% in the fourth quarter. Schroder Investment Management Group now owns 5,250,838 shares of the company’s stock valued at $34,813,000 after buying an additional 667,166 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of Stagwell by 143.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 74,769 shares of the company’s stock valued at $496,000 after buying an additional 44,039 shares in the last quarter. 35.61% of the stock is currently owned by institutional investors and hedge funds.

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.