Stagwell (NASDAQ:STGW) Earns “Buy” Rating from Benchmark

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a research report issued on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock. Benchmark’s target price would indicate a potential upside of 87.62% from the company’s current price.

Several other brokerages have also recently weighed in on STGW. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $9.00 in a report on Friday, February 21st. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of Stagwell in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Stagwell in a research note on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.08.

Stagwell Stock Performance

NASDAQ:STGW opened at $5.33 on Thursday. The company has a market cap of $1.42 billion, a P/E ratio of 266.50 and a beta of 1.56. Stagwell has a twelve month low of $5.26 and a twelve month high of $8.18. The company’s 50-day moving average price is $6.23 and its 200-day moving average price is $6.73. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. raised its position in Stagwell by 0.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 622,361 shares of the company’s stock valued at $4,095,000 after purchasing an additional 1,759 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Stagwell by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,944 shares of the company’s stock worth $322,000 after purchasing an additional 1,892 shares during the period. Ameriprise Financial Inc. increased its position in shares of Stagwell by 0.6% during the 4th quarter. Ameriprise Financial Inc. now owns 351,397 shares of the company’s stock worth $2,312,000 after purchasing an additional 1,974 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Stagwell by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 34,935 shares of the company’s stock valued at $230,000 after buying an additional 2,378 shares during the period. Finally, Invesco Ltd. lifted its position in Stagwell by 2.1% in the fourth quarter. Invesco Ltd. now owns 180,472 shares of the company’s stock valued at $1,188,000 after buying an additional 3,653 shares during the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

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.