Stagwell (NASDAQ:STGW) Sets New 1-Year High – Still a Buy?

Stagwell Inc. (NASDAQ:STGW) shares reached a new 52-week high on Thursday . The stock traded as high as $8.03 and last traded at $8.03, with a volume of 167 shares traded. The stock had previously closed at $7.67.

Wall Street Analysts Forecast Growth

STGW has been the topic of several research analyst reports. Benchmark lifted their price objective on Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and set a $8.00 price target on shares of Stagwell in a research report on Monday, August 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Stagwell Stock Down 0.1 %

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $2.02 billion, a PE ratio of 25.57 and a beta of 1.35. The business has a 50-day moving average price of $6.94 and a 200-day moving average price of $6.83.

Institutional Trading of Stagwell

Several large investors have recently added to or reduced their stakes in STGW. Vanguard Group Inc. raised its holdings in shares of Stagwell by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock worth $36,306,000 after acquiring an additional 452,874 shares during the period. Dimensional Fund Advisors LP raised its stake in Stagwell by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after purchasing an additional 127,099 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Stagwell by 123.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock valued at $8,716,000 after purchasing an additional 685,164 shares during the last quarter. First Pacific Advisors LP grew its stake in shares of Stagwell by 1.8% in the 2nd quarter. First Pacific Advisors LP now owns 994,033 shares of the company’s stock valued at $6,779,000 after buying an additional 18,050 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Stagwell by 14.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock worth $3,471,000 after buying an additional 64,867 shares during the last quarter. 35.61% of the stock is currently 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)-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.