Stagwell (NASDAQ:STGW) Sets New 1-Year High After Analyst Upgrade

Stagwell Inc. (NASDAQ:STGW) shares reached a new 52-week high during trading on Friday after Benchmark raised their price target on the stock from $8.50 to $9.50. Benchmark currently has a buy rating on the stock. Stagwell traded as high as $7.77 and last traded at $7.77, with a volume of 470377 shares changing hands. The stock had previously closed at $7.33.

STGW has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and set a $7.50 price objective on shares of Stagwell in a report on Monday, October 21st. Rosenblatt Securities reissued a “buy” rating and set a $8.00 price target on shares of Stagwell in a research note on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Hedge Funds Weigh In On Stagwell

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Stagwell by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock valued at $36,306,000 after acquiring an additional 452,874 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Stagwell by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock valued at $10,344,000 after purchasing an additional 127,099 shares during the period. Harbor Capital Advisors Inc. increased its stake in Stagwell by 123.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock valued at $8,716,000 after purchasing an additional 685,164 shares in the last quarter. First Pacific Advisors LP raised its holdings in Stagwell by 1.8% in the second quarter. First Pacific Advisors LP now owns 994,033 shares of the company’s stock worth $6,779,000 after purchasing an additional 18,050 shares during the period. Finally, Foundry Partners LLC raised its holdings in Stagwell by 11.3% in the first quarter. Foundry Partners LLC now owns 911,170 shares of the company’s stock worth $5,667,000 after purchasing an additional 92,154 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

Stagwell Stock Up 6.0 %

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95. The firm’s fifty day moving average price is $6.89 and its 200-day moving average price is $6.78. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -366.50 and a beta of 1.35.

About Stagwell

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.