Stagwell (NASDAQ:STGW) Receives Buy Rating from Benchmark

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $8.50 price target on the stock. Benchmark’s price target suggests a potential upside of 33.23% from the company’s current price.

STGW has been the subject of a number of other reports. Rosenblatt Securities reissued a “buy” rating and set a $8.00 price target on shares of Stagwell in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 target price on shares of Stagwell in a report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Stagwell in a report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 price target on the stock. Finally, B. Riley upped their price objective on shares of Stagwell from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.79.

Stagwell Stock Down 1.2 %

STGW stock traded down $0.08 on Wednesday, hitting $6.38. 56,054 shares of the company’s stock were exchanged, compared to its average volume of 537,930. Stagwell has a 12-month low of $3.83 and a 12-month high of $7.25. The firm has a 50 day moving average price of $6.68 and a two-hundred day moving average price of $6.42. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $1.72 billion, a P/E ratio of -213.67 and a beta of 1.36.

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

Insider Transactions at Stagwell

In other news, Director Bradley J. Gross sold 4,000,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the director now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Trading of Stagwell

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new stake in Stagwell in the fourth quarter valued at approximately $30,000. Quarry LP purchased a new stake in shares of Stagwell during the fourth quarter worth $56,000. Handelsbanken Fonder AB purchased a new stake in shares of Stagwell during the fourth quarter worth $71,000. TRUE Private Wealth Advisors purchased a new stake in shares of Stagwell during the fourth quarter worth $105,000. Finally, Victory Capital Management Inc. increased its holdings in Stagwell by 39.1% in the fourth quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock valued at $113,000 after buying an additional 4,807 shares during the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

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.