Stagwell (NASDAQ:STGW) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Stagwell (NASDAQ:STGW) in a research note released on Tuesday, Benzinga reports. They currently have a $7.50 price target on the stock.

Several other brokerages also recently weighed in on STGW. TheStreet upgraded shares of Stagwell from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Benchmark reaffirmed a buy rating and issued a $6.50 target price on shares of Stagwell in a report on Friday, March 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Stagwell currently has a consensus rating of Moderate Buy and a consensus target price of $8.11.

Stagwell Stock Up 0.9 %

Shares of NASDAQ:STGW opened at $5.59 on Tuesday. The company has a market capitalization of $1.50 billion, a PE ratio of -186.33 and a beta of 1.06. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. Stagwell has a twelve month low of $3.83 and a twelve month high of $8.59. The firm has a 50 day simple moving average of $5.93 and a 200-day simple moving average of $5.65.

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 the consensus estimate of $0.25 by ($0.13). The company had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $683.12 million. Stagwell had a positive return on equity of 7.38% and a negative net margin of 0.09%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, equities analysts predict that Stagwell will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Stagwell

In other news, CEO Mark Jeffery Penn acquired 10,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of $5.20 per share, with a total value of $52,000.00. Following the purchase, the chief executive officer now owns 2,480,469 shares of the company’s stock, valued at approximately $12,898,438.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Wade Oosterman purchased 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $5.04 per share, with a total value of $25,200.00. Following the purchase, the director now directly owns 128,204 shares in the company, valued at approximately $646,148.16. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Jeffery Penn purchased 10,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the completion of the purchase, 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. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stagwell

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Stagwell by 15.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,266,750 shares of the company’s stock worth $134,369,000 after purchasing an additional 2,731,100 shares during the period. BlackRock Inc. boosted its position in shares of Stagwell by 29.1% in the 2nd quarter. BlackRock Inc. now owns 7,256,974 shares of the company’s stock worth $52,323,000 after buying an additional 1,634,128 shares in the last quarter. Select Equity Group L.P. boosted its position in shares of Stagwell by 19.1% in the 1st quarter. Select Equity Group L.P. now owns 6,706,120 shares of the company’s stock worth $49,759,000 after buying an additional 1,075,851 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Stagwell by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,384,102 shares of the company’s stock worth $35,697,000 after buying an additional 834,189 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Stagwell by 14.6% in the 4th quarter. Schroder Investment Management Group now owns 5,250,838 shares of the company’s stock worth $34,813,000 after buying an additional 667,166 shares in the last quarter. 35.61% of the stock is owned by institutional investors and hedge funds.

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.