Needham & Company LLC Reaffirms “Buy” Rating for Stagwell (NASDAQ:STGW)

Needham & Company LLC reaffirmed their buy rating on shares of Stagwell (NASDAQ:STGW) in a research report report published on Friday morning, Benzinga reports. They currently have a $7.50 price objective on the stock.

STGW has been the subject of several other research reports. Benchmark upped their price target on shares of Stagwell from $6.50 to $9.00 and gave the company a buy rating in a research report on Thursday, May 2nd. The Goldman Sachs Group began coverage on Stagwell in a report on Tuesday, June 25th. They set a neutral rating and a $6.50 price target on the stock. B. Riley increased their price objective on Stagwell from $9.00 to $10.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Finally, Rosenblatt Securities reiterated a buy rating and issued a $8.00 target price on shares of Stagwell in a report on Monday, June 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $7.72.

Stagwell Trading Down 2.1 %

Stagwell stock opened at $6.02 on Friday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -200.33 and a beta of 1.36. Stagwell has a 1 year low of $3.83 and a 1 year high of $7.25. The firm’s 50 day moving average price is $6.78 and its two-hundred day moving average price is $6.44. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.83 and a current ratio of 0.83.

Stagwell (NASDAQ:STGW) last announced its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $671.20 million for the quarter, compared to analyst estimates of $666.61 million. Stagwell had a positive return on equity of 6.92% and a negative net margin of 0.09%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. On average, research analysts predict that Stagwell will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling at Stagwell

In other news, Director Bradley J. Gross sold 4,000,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the director now owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Stagwell

Several hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust bought a new position in shares of Stagwell in the 4th quarter valued at approximately $30,000. Quarry LP bought a new position in shares of Stagwell in the fourth quarter valued at approximately $56,000. Handelsbanken Fonder AB bought a new stake in shares of Stagwell during the 4th quarter worth $71,000. TRUE Private Wealth Advisors acquired a new position in Stagwell in the 4th quarter valued at $105,000. Finally, Victory Capital Management Inc. raised its holdings in Stagwell by 39.1% in the 4th quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock worth $113,000 after acquiring an additional 4,807 shares during the period. 35.61% of the stock is owned by institutional investors and hedge funds.

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.