Stagwell (NASDAQ:STGW) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Stagwell (NASDAQ:STGW) in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $9.00 price objective on the stock.

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

Stagwell Stock Performance

Shares of NASDAQ:STGW opened at $5.33 on Thursday. 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 company has a market cap of $1.42 billion, a price-to-earnings ratio of 266.50 and a beta of 1.32. Stagwell has a 12 month low of $5.26 and a 12 month high of $8.18. The company has a 50-day moving average price of $6.23 and a 200-day moving average price of $6.72.

Institutional Investors Weigh In On Stagwell

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