Analysts Set Stagwell Inc. (NASDAQ:STGW) PT at $8.50

Stagwell Inc. (NASDAQ:STGW) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

Several brokerages have recently commented on STGW. Benchmark increased their target price on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st. Finally, Rosenblatt Securities boosted their target price on Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, November 18th.

Institutional Trading of Stagwell

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Stagwell by 9.1% during the 2nd 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 last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Stagwell by 123.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock valued at $8,716,000 after buying an additional 685,164 shares during the period. First Pacific Advisors LP lifted its position in shares of Stagwell by 1.8% during 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 last quarter. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 64,867 shares during the period. Finally, CCG Wealth Management LLC bought a new stake in Stagwell in the 2nd quarter valued at about $3,008,000. Institutional investors own 35.61% of the company’s stock.

Stagwell Trading Up 0.5 %

NASDAQ STGW opened at $6.50 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $1.71 billion, a P/E ratio of 22.00 and a beta of 1.44. The business has a fifty day simple moving average of $7.22 and a 200 day simple moving average of $6.96. Stagwell has a 12 month low of $4.88 and a 12 month high of $8.18.

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.