B. Riley Increases Stagwell (NASDAQ:STGW) Price Target to $10.00

Stagwell (NASDAQ:STGW) had its price target upped by equities research analysts at B. Riley from $9.00 to $10.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 44.93% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a report on Thursday. TheStreet upgraded shares of Stagwell from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Finally, Benchmark boosted their price objective on shares of Stagwell from $6.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.06.

Stagwell Trading Down 3.2 %

Shares of NASDAQ STGW traded down $0.23 during midday trading on Thursday, hitting $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 debt-to-equity ratio of 1.39, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a 50-day moving average of $5.83 and a two-hundred day moving average of $5.79.

Stagwell (NASDAQ:STGW) last posted its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The firm had revenue of $654.90 million during the quarter, compared to the consensus estimate of $683.12 million. Stagwell had a negative net margin of 0.16% and a positive return on equity of 7.35%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. As a group, equities research analysts forecast that Stagwell will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Stagwell

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

Hedge Funds Weigh In On Stagwell

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new stake in Stagwell in the 4th quarter valued at $30,000. Quarry LP bought a new position in shares of Stagwell during the 4th quarter valued at about $56,000. New York State Teachers Retirement System grew its position 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 valued at $45,000 after purchasing an additional 2,787 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Stagwell in the fourth quarter worth about $71,000. Finally, AXQ Capital LP purchased a new stake in shares of Stagwell in the third quarter worth about $53,000. 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.