Stagwell (NASDAQ:STGW) Given “Buy” Rating at Needham & Company LLC

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $7.50 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 8.70% from the company’s previous close.

STGW has been the topic of several other research reports. Benchmark restated a “buy” rating and set a $6.50 target price on shares of Stagwell in a report on Friday, March 15th. TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Stagwell has an average rating of “Moderate Buy” and an average target price of $8.06.

Stagwell Stock Performance

Shares of STGW stock traded down $0.23 during trading hours on Thursday, hitting $6.90. 692,394 shares of the company’s stock were exchanged, compared to its average volume of 639,891. The stock’s 50-day moving average is $5.83 and its 200-day moving average is $5.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.75 and a quick ratio of 0.75. Stagwell has a 52 week low of $3.83 and a 52 week high of $8.59.

Stagwell (NASDAQ:STGW) last announced its 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). The business had revenue of $654.90 million for the quarter, compared to the consensus estimate of $683.12 million. Stagwell had a positive return on equity of 7.35% and a negative net margin of 0.16%. Stagwell’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 EPS. Research analysts anticipate that Stagwell will post 0.75 EPS for the current year.

Insider Transactions at Stagwell

In related news, CEO Mark Jeffery Penn bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the transaction, the chief executive officer now owns 2,480,469 shares of the company’s stock, valued at $12,898,438.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Stagwell news, CEO Mark Jeffery Penn acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were 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 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 at the SEC website. Also, Director Wade Oosterman acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the acquisition, the director now directly 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.

Institutional Investors Weigh In On Stagwell

Several institutional investors have recently bought and sold shares of the company. Clear Harbor Asset Management LLC lifted its stake in Stagwell by 2.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 112,617 shares of the company’s stock valued at $528,000 after acquiring an additional 2,500 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Stagwell by 40.8% during the 3rd quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock worth $45,000 after acquiring an additional 2,787 shares during the last quarter. Corton Capital Inc. increased its holdings in shares of Stagwell by 8.2% during the 3rd quarter. Corton Capital Inc. now owns 36,965 shares of the company’s stock worth $173,000 after acquiring an additional 2,787 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Stagwell by 22.0% during the 3rd quarter. Principal Financial Group Inc. now owns 22,913 shares of the company’s stock worth $107,000 after acquiring an additional 4,135 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of 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 last quarter. 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.