Benchmark Increases Stagwell (NASDAQ:STGW) Price Target to $9.00

Stagwell (NASDAQ:STGW) had its price objective hoisted by Benchmark from $6.50 to $9.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on STGW. Needham & Company LLC reiterated a buy rating and set a $7.50 price target on shares of Stagwell in a research report on Thursday. TheStreet upgraded Stagwell from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $8.06.

Stagwell Trading Down 3.2 %

STGW stock opened at $6.90 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.39. Stagwell has a twelve month low of $3.83 and a twelve month high of $8.59. The stock has a 50-day simple moving average of $5.83 and a two-hundred day simple moving average of $5.81.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative net margin of 0.16% and a positive return on equity of 7.35%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. As a group, sell-side analysts predict that Stagwell will post 0.75 EPS for the current year.

Insider Buying and Selling at Stagwell

In related news, Director Wade Oosterman acquired 5,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the director now owns 128,204 shares of the company’s stock, valued at approximately $646,148.16. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Stagwell news, CEO Mark Jeffery Penn bought 10,000 shares of Stagwell stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average cost of $5.20 per share, with a total value of $52,000.00. Following the completion of the purchase, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wade Oosterman bought 5,000 shares of Stagwell stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the director now directly owns 128,204 shares of the company’s stock, valued at approximately $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

Several hedge funds have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC grew its stake in Stagwell by 15.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,266,750 shares of the company’s stock worth $134,369,000 after purchasing an additional 2,731,100 shares during the period. Boston Partners purchased a new stake in Stagwell in the fourth quarter worth $12,842,000. CastleKnight Management LP grew its stake in Stagwell by 372.7% in the fourth quarter. CastleKnight Management LP now owns 1,467,760 shares of the company’s stock worth $9,731,000 after purchasing an additional 1,157,239 shares during the period. My Personal CFO LLC grew its stake in shares of Stagwell by 153.5% in the fourth quarter. My Personal CFO LLC now owns 1,333,440 shares of the company’s stock worth $8,841,000 after acquiring an additional 807,505 shares during the last quarter. Finally, Foundry Partners LLC purchased a new stake in shares of Stagwell in the third quarter worth $3,568,000. 35.61% of the stock is owned by hedge funds and other institutional investors.

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.