Stagwell’s (STGW) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Stagwell (NASDAQ:STGW) in a research note published on Monday, Benzinga reports. Rosenblatt Securities currently has a $8.00 price target on the stock.

A number of other equities analysts have also recently commented on STGW. B. Riley lifted their price target on Stagwell from $9.00 to $10.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Benchmark reduced their price target on Stagwell from $9.00 to $8.50 and set a buy rating for the company in a report on Monday. Needham & Company LLC reiterated a buy rating and set a $7.50 price target on shares of Stagwell in a report on Friday. Finally, The Goldman Sachs Group initiated coverage on Stagwell in a report on Tuesday, June 25th. They set a neutral rating and a $6.50 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $7.72.

Stagwell Stock Up 0.7 %

Shares of NASDAQ STGW traded up $0.04 during mid-day trading on Monday, hitting $6.06. The company had a trading volume of 701,286 shares, compared to its average volume of 545,983. The company has a market capitalization of $1.63 billion, a PE ratio of -202.67 and a beta of 1.36. The firm has a 50-day simple moving average of $6.76 and a two-hundred day simple moving average of $6.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.59. Stagwell has a one year low of $3.83 and a one year high of $7.25.

Stagwell (NASDAQ:STGW) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $671.20 million during the quarter, compared to the consensus estimate of $666.61 million. Stagwell had a negative net margin of 0.09% and a positive return on equity of 6.92%. Stagwell’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. On average, equities analysts expect that Stagwell will post 0.61 EPS for the current year.

Insider Transactions at Stagwell

In other news, Director Bradley J. Gross sold 4,000,000 shares of Stagwell stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the sale, the director now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Stagwell

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust acquired a new stake in shares of Stagwell in the fourth quarter valued at approximately $30,000. Quarry LP acquired a new position in Stagwell during the fourth quarter valued at approximately $56,000. Handelsbanken Fonder AB acquired a new position in Stagwell during the fourth quarter valued at approximately $71,000. TRUE Private Wealth Advisors acquired a new position in Stagwell during the fourth quarter valued at approximately $105,000. Finally, Victory Capital Management Inc. raised its position in Stagwell by 39.1% during the fourth quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock valued at $113,000 after purchasing an additional 4,807 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.