Brokerages Set Stagwell Inc. (NASDAQ:STGW) PT at $8.50

Shares of Stagwell Inc. (NASDAQ:STGW) have earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.50.

Several research firms have commented on STGW. Rosenblatt Securities upped their price objective on shares of Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, November 18th. Benchmark raised their price objective on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st.

Stagwell Price Performance

Stagwell stock opened at $6.51 on Wednesday. Stagwell has a 12 month low of $4.88 and a 12 month high of $8.18. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The business’s 50 day simple moving average is $7.03 and its 200 day simple moving average is $6.93. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 22.03 and a beta of 1.46.

Institutional Investors Weigh In On Stagwell

A number of institutional investors and hedge funds have recently modified their holdings of STGW. American Century Companies Inc. lifted its stake in Stagwell by 15.7% in the 2nd quarter. American Century Companies Inc. now owns 122,589 shares of the company’s stock valued at $836,000 after buying an additional 16,600 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Stagwell by 9.1% in 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. Hsbc Holdings PLC raised its holdings in Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after buying an additional 3,360 shares during the period. Sei Investments Co. boosted its position in shares of Stagwell by 3.4% during the 2nd quarter. Sei Investments Co. now owns 181,966 shares of the company’s stock worth $1,241,000 after purchasing an additional 5,918 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Stagwell by 16.1% in the second quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock valued at $243,000 after buying an additional 4,961 shares in the last quarter. 35.61% of the stock is owned by institutional investors.

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.