Stagwell (NASDAQ:STGW) Upgraded by Wells Fargo & Company to “Overweight” Rating

Stagwell (NASDAQ:STGW) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Friday,Finviz reports. The brokerage currently has a $9.00 target price on the stock, up from their prior target price of $8.00. Wells Fargo & Company‘s price objective suggests a potential upside of 46.34% from the company’s current price.

Several other research firms have also recently commented on STGW. Benchmark raised their target price on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and issued a $9.00 target price on shares of Stagwell in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.58.

Stagwell Stock Down 1.0 %

Shares of Stagwell stock opened at $6.15 on Friday. 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 $6.52 and its 200-day simple moving average is $6.87. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 20.70 and a beta of 1.44. Stagwell has a twelve month low of $4.88 and a twelve month high of $8.18.

Hedge Funds Weigh In On Stagwell

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STGW. SG Americas Securities LLC bought a new position in Stagwell during the 3rd quarter valued at $153,000. Creative Planning boosted its stake in Stagwell by 88.9% during the 3rd quarter. Creative Planning now owns 40,074 shares of the company’s stock valued at $281,000 after purchasing an additional 18,863 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Stagwell by 123.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock valued at $8,716,000 after purchasing an additional 685,164 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Stagwell by 23.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,605 shares of the company’s stock valued at $250,000 after purchasing an additional 6,730 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Stagwell during the 3rd quarter valued at $229,000. 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.