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

Stagwell (NASDAQ:STGW) had its price target lifted by Benchmark from $6.50 to $9.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

STGW has been the topic of several other reports. TheStreet upgraded shares of Stagwell from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Needham & Company LLC reissued a buy rating and issued a $7.50 price objective on shares of Stagwell in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $8.06.

Stagwell Trading Down 3.2 %

Shares of Stagwell stock opened at $6.90 on Thursday. The company’s 50 day moving average is $5.83 and its 200 day moving average is $5.80. Stagwell has a twelve month low of $3.83 and a twelve month high of $8.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.75 and a current ratio of 0.75.

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

Insider Activity

In other Stagwell news, Director Wade Oosterman purchased 5,000 shares of Stagwell stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the acquisition, the director now owns 128,204 shares in the company, valued at approximately $646,148.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Wade Oosterman acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $5.04 per share, with a total value of $25,200.00. Following the transaction, the director now directly owns 128,204 shares in the company, valued at $646,148.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Jeffery Penn acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was purchased 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 in the company, valued at $12,898,438.80. The disclosure for this purchase can be found here. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Stagwell

Several large investors have recently bought and sold shares of the stock. Clear Harbor Asset Management LLC grew its position in Stagwell by 2.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 112,617 shares of the company’s stock worth $528,000 after purchasing an additional 2,500 shares during the last quarter. New York State Teachers Retirement System grew its position in 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 purchasing an additional 2,787 shares during the last quarter. Corton Capital Inc. grew its position in 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 purchasing an additional 2,787 shares during the last quarter. Principal Financial Group Inc. grew its position in 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 purchasing an additional 4,135 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in 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 purchasing an additional 4,345 shares during the last quarter. Hedge funds and other 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.