Stagwell’s (STGW) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Stagwell (NASDAQ:STGW) in a report published on Thursday, Benzinga reports. Needham & Company LLC currently has a $7.50 price target on the stock.

A number of other equities analysts have also recently issued reports on STGW. Benchmark restated a buy rating and set a $6.50 price objective on shares of Stagwell in a report on Friday, March 15th. TheStreet raised shares of Stagwell from a d+ rating to a c- rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Stagwell currently has a consensus rating of Moderate Buy and an average price target of $8.06.

Stagwell Stock Performance

STGW stock traded down $0.23 during mid-day trading on Thursday, reaching $6.90. 692,394 shares of the stock traded hands, compared to its average volume of 639,891. Stagwell has a one year low of $3.83 and a one year high of $8.59. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average price of $5.83 and a two-hundred day moving average price of $5.79.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.12 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 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 previous year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, analysts forecast that Stagwell will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Stagwell

Several institutional investors and hedge funds have recently added to or reduced their stakes in STGW. Clear Harbor Asset Management LLC grew its position in shares of Stagwell by 2.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 112,617 shares of the company’s stock worth $528,000 after buying an additional 2,500 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of 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 buying an additional 2,787 shares during the period. Corton Capital Inc. grew its holdings in shares of Stagwell by 8.2% during the third quarter. Corton Capital Inc. now owns 36,965 shares of the company’s stock valued at $173,000 after buying an additional 2,787 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Stagwell by 22.0% in the 3rd quarter. Principal Financial Group Inc. now owns 22,913 shares of the company’s stock valued at $107,000 after acquiring an additional 4,135 shares during the period. Finally, HighTower Advisors LLC lifted its position in Stagwell by 0.7% during the 3rd quarter. HighTower Advisors LLC now owns 623,894 shares of the company’s stock worth $2,926,000 after acquiring an additional 4,345 shares during the period. Hedge funds and other institutional investors 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.